BUZZ-Crown Castle plunges after co cuts workforce amid lower annual rental revenue outlook
Reuters
Feb 05
BUZZ-Crown Castle plunges after co cuts workforce amid lower annual rental revenue outlook
** Shares of wireless tower operator Crown Castle CCI.N down 7% at $79.89 after the bell
** Co reduces its tower and corporate workforce by around 20% and also forecast annual site rental revenue below estimates
** Expects annual site rental revenue to be between $3.83 billion and $3.87 billion, below analysts expectations of $4.13 billion- data compiled by LSEG
** Sees annual adjusted funds from operations of between $4.38 and $4.49 per share, compared with estimates of $4.93 per share
** Posts Q4 rental revenue was $1.02 billion, compared with estimates of $1.01 billion
** Stock fell 2% in 2025
(Reporting by Koyena Das in Bengaluru)
((koyena.das@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.