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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Crown Castle Inc | NYSE:CCI | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.95 | 0.99% | 97.39 | 98.36 | 96.78 | 98.00 | 4,118,949 | 00:53:24 |
From May 2021 to May 2024
By Denny Jacob
Crown Castle International Corp. reported better-than-expected profit and revenue in the first quarter.
The real estate investment trust company reported a profit of $421 million, or 97 cents a share, for the quarter ended March 31, compared with a profit of $58 million, or 13 cents a share, in the year-ago period. Analysts polled by FactSet expected 94 cents.
Revenue rose to $1.74 billion from $1.49 billion. Analysts polled by FactSet expected $1.69 billion.
Crown Castle said site rental revenues grew 15% to $1.58 billion from $1.37 billion. It said site rental revenue benefited by approximately $15 million from items not expected to incur in 2022.
The company raised its current EPS outlook for 2022 to $3.94.
Chief Executive Jay Brown said in prepared remarks that the company expects elevated levels of tower leasing to continue this year.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 20, 2022 16:52 ET (20:52 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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