Crown Castle International Q2 FFO Rises

(RTTNews) - Crown Castle International Corp. (CCI) Wednesday reported second-quarter funds from operations of $408.1 million or $1.22 per share, up from $260.5 million or $0.78 per share last year.

AFFO per share for the quarter improved to $1.03 per share from $1.00 per share last year.

Net income for the quarter rose to $1.14 billion or $3.42 per share from $23.0 million or $0.07 per share last year.

Net revenues for the quarter rose to $899.4 million from $878.2 million last year.

Analysts polled by Thomson Reuters expected the company to report FFO of $1.06 per share on revenues of $929.04 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects AFFO per share of $4.21 to $4.25 per share and site rental revenues of $2.949 billion to $2.959 billion.

Earlier, the company expected AFFO of $4.34 to $4.39 per share.

Analysts currently estimate earnings of $4.34 per share on revenues of $3.72 billion.

For the third quarter, the company expects AFFO per share of $1.02 to $1.04 per share and rental revenues of $740 to $745 million.

Analysts currently estimate earnings of $1.06 per share on revenues of $923.03 million for the quarter.