HOUSTON (AP) _ Crown Castle International Corp. (CCI) on Wednesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Houston, said it had funds from operations of $812 million, or $1.87 per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of $1.80 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $421 million, or 97 cents per share.

The operator of wireless communications towers, based in Houston, posted revenue of $1.74 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.7 billion.

Crown Castle expects full-year funds from operations in the range of $7.31 to $7.41 per share.

The company's shares have fallen 5% since the beginning of the year, while the S&P's 500 index has declined slightly more than 6%. In the final minutes of trading on Wednesday, shares hit $197.93, a rise of 8% 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 CCI at https://www.zacks.com/ap/CCI

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