Outfront Media: Q2 Earnings Snapshot
By AP News
Published - Aug 06, 2024, 05:48 PM ET
Last Updated - Aug 06, 2024, 05:48 PM EDT
NEW YORK (AP) — NEW YORK (AP) — Outfront Media Inc. (OUT) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $84.8 million, or 49 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 46 cents 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.
