WASHINGTON (dpa-AFX) - Crown Castle International Corp. (CCI) Wednesday reported second-quarter funds from operations of $275.6 million or $0.83 per share, up from $243.5 million or $0.83 per share last year.
Adjusted funds from operations for the quarter rose to $1.05 per share from $0.93 per share last year.
Net income for the quarter dropped to $23.0 million or $0.07 per share from $52.4 million or $0.18 per share last year.
Analysts polled by Thomson Reuters estimated FFO of $1.01 per share on revenues of $873.26 million for the quarter. Analysts' estimates typically exclude one-time items.
For the third quarter, the company expects earnings of $0.21 to $0.31 per share, adjusted FFO of $1.00 to $1.01 per share and site rental revenues of $746 million to $751 million.
Analysts currently estimate FFO of $1.01 per share on revenues of $878.31 million for the quarter.
For the full year, the company expects earnings of $0.73 to $0.98, adjusted FFO of $4.13 to $4.18 per share and site rental revenues of $2.99 billion to $3.00 billion.
Analysts currently estimate FFO of $4.17 per share on revenues of $3.52 billion for the year.
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