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Crown Castle Inc. (NYSE: CCI), a real estate investment trust and a provider of shared communications infrastructure, has reported financial results for the fourth quarter of 2024 and issued guidance for fiscal 2025.
The company reported revenues of $1.65 billion for the fourth quarter of 2024, compared to $1.67 billion in Q4 2023It posted a net loss of $4.77 billion for Q4, compared to a profit of $361 million in the prior-year quarterOn a per-share basis, loss was $10.97, compared to earnings of $0.83 in the corresponding quarter last yearThe bottom line was negatively impacted by one-time goodwill impairment charges of around $5 billionCrown Castle has signed a definitive agreement to sell all of its Fiber segment, together with certain supporting assets and personnelThe company expects to use the cash proceeds from the transaction to repay debt and fund share repurchases while managing its balance sheet to maintain an investment-grade ratingFor fiscal 2025, the management expects net income in the range of $65 million to $345 million Full-year funds from operations are expected to be between $1.61 billion and $1.64 billion
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