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SBA Communications logs Q1 beat with healthy margins

Published 04/30/2018, 05:02 PM
© Reuters.  SBA Communications logs Q1 beat with healthy margins
SBAC
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  • SBA Communications (NASDAQ:SBAC) topped expectations with Q1 earnings where it logged solid margins and boosted backlogs.
  • It beat profit and revenue expectations, and adjusted funds from operations/share of $1.85 (up 9.5%) beat an expected $1.82.
  • Net income dipped 16% to $31.5M. EBITDA, meanwhile, was up 9.1% to $318.8M.
  • Site leasing revenue was up 8.3% (up 8.5% ex-forex) to $430.5M; site development revenue rose 7.8% to $27.8M. It added 400 sites to its portfolio during the quarter.
  • Tower cash flow rose 8.6% to $339M.
  • Shares were resilient today, up 0.8% in the wake of the Sprint/T-Mobile merger deal.
  • Conference call at 5 p.m. ET.
  • Press release
  • Now read: Akamai Tech +2.3% on Q1 beats, 11% revenue growth


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