SBA Communications Q3 Revenue Beat Street, AFFO Increases

(RTTNews) - SBA Communications Corporation (SBAC) on Thursday announced third-quarter revenue that beat the Street estimates, and Adjusted funds from operations increased from last year.

The company reported a net income of $87.4 million or $0.80 per share for the quarter, a decrease from last year's profit of $100.0 million or $0.91 per share.

Adjusted funds from operations were $362.8 million or $3.33 per share, compared to the income of $338.6 million or $3.09 per share the prior year.

Analysts on average had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters.

Revenue increased to $682.5 million from $675.6 million the previous year. It beat the consensus estimate of $679.71 million.

The company expects full-year revenue between $2.70 billion to $2.73 billion, and AFFO attributable to SBA Communications Corporation between $12.86 to $13.08 per share.