WASHINGTON (dpa-AFX) - Crown Castle International Corp. (CCI) Wednesday reported first-quarter funds from operations, or FFO, of $215 million or $0.73 per share, up from $191 million or $0.67 per share last year.
Adjusted FFO rose to $291 million or $1.00 per share from $198 million or $0.69 per share last year.
Net income for the quarter dropped to $15.5 million or $0.05 per share from $47.4 million or $0.17 per share last year.
Total revenue for the first quarter increased 34 percent to $740 million from $552 million last year.
Analysts polled by Thomson Reuters expected the company to earn $0.03 per share on revenue of $698.33 million for the quarter.
Looking forward to the second quarter, the company expects earnings of $0.08 to $0.22 per share and adjusted FFO of $0.94 to $0.95 per share.
Analysts currently estimate earnings of $0.13 per share for the quarter.
For the full year 2013, the company now expects earnings of $0.35 to $0.68 per share and adjusted FFO of $3.84 to $3.88 per share.
Previously, the company expected full-year 2013 earnings of $0.20 to $0.54 per share and adjusted FFO of $3.65 to $3.70 per share.
Analysts currently estimate earnings of $0.46 per share for the full year.
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