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SBA Communications misses Street 4Q forecasts

BOCA RATON, Fla. (AP) _ SBA Communications Corp. (SBAC) on Monday reported fourth-quarter profit of $5.3 million.

The Boca Raton, Florida-based company said it had profit of 4 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The communications tower operator posted revenue of $416.5 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $417.1 million.

For the year, the company reported net income of $76.2 million, or 61 cents per share, swinging to a profit in the period. Revenue was reported as $1.63 billion.

SBA Communications expects full-year revenue in the range of $1.67 billion to $1.71 billion.

SBA Communications shares have climbed 9 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $112.79, a rise of 17 percent in the last 12 months.


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


Keywords: SBA Communications, Earnings Report