Crown Castle (NYSE:CCI)
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6 Months : From Jul 2019 to Jan 2020
By Allison Prang
Crown Castle International Corp.'s (CCI) revenue and profit increased by double-digit percentages in the third quarter.
Crown Castle's profit was $272 million, up 66% from the comparable quarter a year prior. Earnings were 58 cents a share, up from 33 cents a share.
Adjusted funds from operations were $1.55 a share, up from $1.39 a share. Analysts polled by FactSet were expecting $1.48 a share.
Net revenues were $1.51 billion, up 10%. Analysts were expecting $1.48 billion.
Operating expenses rose 4.4%. Crown Castle reported a $32 million loss on the retirement of long-term obligations for the comparable quarter a year earlier, which hurt earnings.
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(END) Dow Jones Newswires
October 16, 2019 16:44 ET (20:44 GMT)
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