Crown Castle (CCI) Tops Q1 EPS by 5c

Crown Castle (NYSE: CCI) reported Q1 EPS of $0.33, $0.05 better than the analyst estimate of $0.28. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.01 billion.

"Given the expected substantial increase in mobile data demand over the coming years, we are excited about the opportunities for growth we see as a result of our position as a leading provider of wireless infrastructure in the US," stated Jay Brown, Crown Castle’s Chief Executive Officer. "Our tower business continues to see steady levels of activity in the short term. Over the longer term, we believe there is an extended runway of growth driven by positive industry developments, including the deployment of FirstNet and spectrum from the recently completed incentive auction. In our small cells business, our contracted pipeline has reached record levels, with nearly 25,000 nodes expected to be installed over the next 18 to 24 months, reflecting the confidence our customers have in our ability to assist in deploying their wireless networks. Once completed, this pipeline will double the number of small cell nodes we have installed to date."

For earnings history and earnings-related data on Crown Castle (CCI) click here.

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