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.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

October 16, 2019 16:44 ET (20:44 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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