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Crown Castle (CCI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates (Revised)
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For the quarter ended June 2024, Crown Castle (CCI - Free Report) reported revenue of $1.63 billion, down 12.9% over the same period last year. EPS came in at $1.62, compared to $1.05 in the year-ago quarter.
The reported revenue represents a surprise of +0.18% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $1.65, the EPS surprise was -1.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown Castle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ending Towers - Total: 40,000 versus the four-analyst average estimate of 40,051.
Revenues- Site rental: $1.58 billion compared to the $1.57 billion average estimate based on four analysts. The reported number represents a change of -8.6% year over year.
Site rental revenues- Towers: $1.06 billion versus $1.06 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
Site rental revenues- Fiber: $516 million versus $508.71 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -20.4% change.
Revenues- Network services and other: $46 million versus $53.16 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -66.9% change.
Revenues- Fiber: $519 million versus $511.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -21.7% change.
Services and other revenues- Towers: $43 million compared to the $50.53 million average estimate based on three analysts. The reported number represents a change of -65.3% year over year.
Revenues- Towers: $1.11 billion versus the three-analyst average estimate of $1.11 billion. The reported number represents a year-over-year change of -8.1%.
Services and other revenues- Fiber: $3 million compared to the $3.68 million average estimate based on three analysts. The reported number represents a change of -80% year over year.
Net Earnings Per Share (Diluted): $0.58 versus the five-analyst average estimate of $0.62.
Services & Other- Gross margin: $21 million compared to the $17.86 million average estimate based on four analysts.
Site rental- Gross margin- Consolidated Total: $1.16 billion compared to the $1.14 billion average estimate based on four analysts.
Shares of Crown Castle have returned +9% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on July 17, 2024, should no longer be relied upon.)
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Crown Castle (CCI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates (Revised)
For the quarter ended June 2024, Crown Castle (CCI - Free Report) reported revenue of $1.63 billion, down 12.9% over the same period last year. EPS came in at $1.62, compared to $1.05 in the year-ago quarter.
The reported revenue represents a surprise of +0.18% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $1.65, the EPS surprise was -1.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Crown Castle performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Crown Castle here>>>
Shares of Crown Castle have returned +9% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
(We are reissuing this article to correct a mistake. The original article, issued on July 17, 2024, should no longer be relied upon.)