Crown Castle's (CCI) Q1 AFFO & Revenues Surpass Estimates

Crown Castle Inc. (CCI) reported first-quarter 2024 adjusted funds from operations (AFFO) per share of $1.72, outpacing the Zacks Consensus Estimate by a penny. However, the reported figure declined 9.9% from the year-ago quarter.Results reflect better-than-anticipated revenues. 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 $1.64 billion, too, beat the Zacks Consensus Estimate of ...