Crown Castle Q3 2024 AFFO $1.84 Beats $1.78 Estimate, Sales $1.65B Beat $1.63B Estimate
Portfolio Pulse from Benzinga Newsdesk
Crown Castle (NYSE:CCI) reported Q3 2024 AFFO of $1.84 per share, beating estimates of $1.78, and sales of $1.65 billion, surpassing the $1.63 billion estimate. AFFO increased by 3.95% year-over-year, while sales decreased by 0.90%.
October 16, 2024 | 8:08 pm
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Crown Castle's Q3 2024 results exceeded expectations with AFFO of $1.84 per share and sales of $1.65 billion, both beating analyst estimates. AFFO showed a year-over-year increase, while sales slightly decreased.
Crown Castle's better-than-expected AFFO and sales figures are likely to positively impact its stock price in the short term. The AFFO growth indicates strong operational performance, which is a key metric for REITs like Crown Castle. Despite a slight decline in sales year-over-year, the beat on estimates suggests resilience and potential investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100