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Outfront Media: 2Q Earnings Snapshot

August 5, 2019

NEW YORK (AP) _ Outfront Media Inc. (OUT) on Monday 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 $96.3 million, or 67 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 net income of $50.3 million, or 35 cents per share.

The billboard, transit and digital display advertising company, based in New York, posted revenue of $459.9 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $452.3 million.

The company’s shares have climbed 44% since the beginning of the year. In the final minutes of trading on Monday, shares hit $26.05, a climb of 25% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OUT at https://www.zacks.com/ap/OUT

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