Crown Castle Q2 Profit Rises, Lowers Outlook

(RTTNews) - Crown Castle Inc. (CCI) on Wednesday reported a second-quarter profit that rose from last year.

The company reported a net income of $455 million or $1.05 per share for the quarter, up from $421 million or $0.97 per share the prior year. Analysts expected earnings of $1.05 per share.

Adjusted AFFO was $891 million or $2.05 per share, compared to $783 million or $1.80 per share the prior year.

Revenue increased to $1.87 billion from $1.73 billion the previous year. It beat the consensus estimate of $1.86 billion.

Crown Castle expects full-year adjusted FFO guidance to be $7.50 to $7.58 per share, which is $0.09 down from its prior outlook.