Crown Castle (CCI) Reports In-Line Q2 AFFO

Crown Castle (NYSE: CCI) reported Q2 AFFO of $1.16, in-line with the analyst estimate of $1.16. Revenue for the quarter came in at $962.4 million versus the consensus estimate of $948.85 million.

Raises outlook. Sees Q3 AFFO of $1.18-$1.19. FY AFFO of $4.68-$4.73.

"With the backdrop of a healthy leasing environment, we were able to deliver strong operating and financial results in the second quarter and increase our Outlook for full year 2016," stated Jay Brown, Crown Castle’s Chief Executive Officer. "Our leading position in U.S. wireless infrastructure positions us to continue to benefit as wireless carriers upgrade and enhance their networks to meet increasing demand for wireless connectivity. This increasing demand, coupled with our ability to make investments with attractive returns, gives us confidence in our goal of growing dividends per share by 6% to 7% annually over the next several years."

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

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