Outfront Media: Q3 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Outfront Media Inc. (OUT) on Thursday reported a key measure of profitability in its third quarter. The results did not meet Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $102.9 million, or 58 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 59 cents 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 $64.8 million, or 37 cents per share.

The billboard, transit and digital display advertising company, based in New York, posted revenue of $511.1 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $509.1 million.

_____

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