Crown Castle International Q1 Results Top Estimates

(RTTNews) - Crown Castle International Corp. (CCI) reported net income for the first quarter of $112 million or $0.34 per share, compared to $91 million or $0.27 per share for the yar-ago quarter.

Funds from Operations for the first quarter increased 11% to $373 million or $1.12 per share in the first quarter, compared to $338 million or $1.01 per share in the prior year quarter.

Adjusted Funds from Operations increased 10% to $383 million or $1.15 per share in the first quarter of 2015, compared to $349 million or $1.05 per share in the first quarter of last year.

Total revenues for the first quarter rose 7% to $941 million from $876 million a year earlier.

Analysts polled by Thomson Reuters expected the company to report FFO of $1.09 per share on revenue of $936.52 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts adjusted FFO of $1.04 to $1.06 per share.

For the full year 2015, the company now forecasts adjusted FFO of $4.34 to $4.39 per share, compared to its prior guidance of $4.33 to $4.39 per share.

Analysts currently expect the company to report FFO of $1.09 per share for the second quarter and $4.40 per share for the full year 2015.