CyrusOne: 3Q Earnings Snapshot
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DALLAS (AP) _ CyrusOne Inc. (CONE) on Tuesday reported a key measure of profitability in its third quarter. The results did not meet Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $78.5 million, or 79 cents per share, in the period.
The average estimate of 12 analysts surveyed by Zacks Investment Research was for funds from operations of 80 cents per share.
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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 a loss of $42.4 million, or 43 cents per share.
The data center operator, based in Dallas, posted revenue of $206.6 million in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $208.2 million.
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CyrusOne expects full-year funds from operations in the range of $3.25 to $3.30 per share, with revenue in the range of $820 million to $830 million.
The company's shares have declined nearly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $53.63, a decrease of 11 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CONE at https://www.zacks.com/ap/CONE