SBA Communications Corp. (NASDAQ:SBAC) announced net income for the fourth quarter of $ 7.70 million or $ 0.06 per share. The company generated total revenue of $ 443.07 million for the same period. While earnings per share grew 9 percent from the year-ago quarter, revenue advanced 6 percent.
On an adjusted basis, SBA Communications Corp. revealed adjusted funds from operations of $ 1.78 a share for the fourth quarter. This topped analysts estimate by $ 1.6 a share while total revenue exceeded street analysts expectation by $ 7 million.
Street analysts are looking for income of $ 0.18 per share on total revenue of $ 436.46 million for the fourth quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.
Jeffrey A. Stoops, President and CEO, said: We ended the year with solid results and strong momentum as we move into 2018. In 2017 we saw steady activity across all our markets and we executed well, with results exceeding our plan and initial guidance. We have moved into 2018 with solid momentum and the opportunity to build on the momentum we have.
For the twelve months period, SBAC disclosed net income of $ 103.65 million or $ 0.86 per share from the total revenue of $ 1.73 billion.
For the full year 2018, SBAC expects earnings estimates in the range of $ 7.27 – $ 7.67 per share.