Outfront Media: 2Q Earnings Snapshot
NEW YORK (AP) _ Outfront Media Inc. (OUT) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in New York, said it had funds from operations of $77.2 million, or 55 cents per share, in the period.
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 $5.2 million, or 4 cents per share.
The billboard, transit and digital display advertising company, based in New York, posted revenue of $401.7 million in the period.
The company’s shares have dropped 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.73, a decrease of roughly 7 percent in the last 12 months.