SBA Communications Corporation Q1 Profit Drops, misses estimates

(RTTNews) - SBA Communications Corporation (SBAC) revealed a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $101.22 million, or $0.93 per share. This compares with $188.62 million, or $1.72 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.0% to $675.52 million from $619.77 million last year.

SBA Communications Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $101.22 Mln. vs. $188.62 Mln. last year. -EPS (Q1): $0.93 vs. $1.72 last year. -Analyst Estimates: $1.21 -Revenue (Q1): $675.52 Mln vs. $619.77 Mln last year.