Crown Castle: Q1 Earnings Snapshot
By AP News
Published - Apr 17, 2024, 04:42 PM ET
Last Updated - Apr 17, 2024, 04:43 PM EDT
HOUSTON (AP) — HOUSTON (AP) — Crown Castle International Corp. (CCI) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Houston, said it had funds from operations of $749 million, or $1.72 per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.71 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
