SBA Communications Corporation Reports Drop In Q2 Profit, misses estimates

(RTTNews) - SBA Communications Corporation (SBAC) reported earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $69.52 million, or $0.64 per share. This compares with $152.67 million, or $1.37 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.3% to $652.01 million from $575.53 million last year.

SBA Communications Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $69.52 Mln. vs. $152.67 Mln. last year. -EPS (Q2): $0.64 vs. $1.37 last year. -Analyst Estimates: $0.90 -Revenue (Q2): $652.01 Mln vs. $575.53 Mln last year.