UPDATE: Crown Castle Q3 Profit Rises 9%

Crown Castle International

reported a 9% rise in its third-quarter earnings. Crown Castle's quarterly profit surged to $45.8 million, or $0.16 per share, from $42 million, or $0.14 per share, in the year-ago period. The company had earlier expected earnings of $0.10 to $0.23 per share. Its adjusted funds from operations rose to $1.09 per share from $0.79 per share. Its revenue climbed 21% to $749 million, beating analysts' estimates of $731 million. Crown Castle now expects full-year earnings of $0.50 to $0.64 per share, versus its earlier forecast of $0.40 to $0.73 per share. Crown Castle shares declined 1.40% to $74.90 in pre-market trading.