SBA Communications Q3 Profit Surges, Lifts FY Outlook

(RTTNews) - SBA Communications Corporation (SBAC) Monday reported third-quarter net income of $255.9 million or $2.40 per share, compared to $85.4 million or $0.80 per share last year.

Adjusted FFO per share of $358.3 million or $3.32 per share, compared to $364.1 million or $3.34 per share last year.

Total revenues in the third quarter were $667.6 million compared to $682.5 million in the prior year period.

Analysts polled by Thomson Reuters expect earnings of $2.27 per share and revenues of $669.81 million.

Looking ahead, the company expects AFFO per share of $13.20 to $13.45 and revenues of $2.66 to $2.68 billion.

Previously, the company expected AFFO per share of $13.06 to $13.43 and revenues of $2.642 billion to $2.672 billion.

Analysts currently estimate earnings of $7.29 per share and revenues of $2.66 billion.