Crown Castle's (CCI) Q4 AFFO Beat, Site-Rental Revenues Up

Crown Castle Inc.’s (CCI) fourth-quarter 2023 adjusted funds from operations (AFFO) per share of $1.82 surpassed the Zacks Consensus Estimate of $1.79. Net revenues of $1.67 billion, outpaced the Zacks Consensus Estimate of $1.65 billion.However, AFFO per share reported a 1.6% decline year over year. Net revenues fell 5.1% year over year.For 2023, Crown Castle reported AFFO per share of $7.55, beating the Zacks Consensus Estimate of $7.52. Moreover, the figure increased 2.3% from the prior year’s $7.38. Net ...