Crown Castle International's Earnings, Revenue Rise
October 16 2019 - 4:59PM
Dow Jones News
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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