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CyrusOne: 3Q Earnings Snapshot

·1 min read

DALLAS (AP) _ CyrusOne Inc. (CONE) on Wednesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The Dallas-based real estate investment trust said it had funds from operations of $114.4 million, or 96 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 91 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $37.3 million, or 32 cents per share.

The data center operator posted revenue of $262.8 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $262.1 million.

CyrusOne expects full-year funds from operations in the range of $3.80 to $3.90 per share, with revenue in the range of $1.02 billion to $1.03 billion.

The company's shares have increased almost 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $71.73, a decline of slightly more than 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CONE at https://www.zacks.com/ap/CONE