Crown Castle's (CCI) Q4 AFFO Beat Estimate, Revenues Down Y/Y

Crown Castle Inc. (CCI) reported fourth-quarter 2023 adjusted funds from operations (AFFO) per share of $1.82, outpacing the Zacks Consensus Estimate of $1.79. However, the reported figure declined 1.6% from the year-ago quarter.Results reflect better-than-anticipated revenues aided by healthy site-rental revenue growth. However, higher interest expense on debt obligations and lower contributions from adjusted EBITDA were undermining factors. CCI maintained its outlook for 2024.Net revenues of $1.67 billion ...