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Uniti: Q1 Earnings Snapshot

May 5, 2022 GMT

LITTLE ROCK, Ark. (AP) _ Uniti Group Inc. (UNIT) on Thursday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in Little Rock, Arkansas, said it had funds from operations of $115.8 million, or 43 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 $52.4 million, or 21 cents per share.

The real estate investment trust, based in Little Rock, Arkansas, posted revenue of $278 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $277.2 million.

Uniti expects full-year funds from operations in the range of $1.70 to $1.77 per share, with revenue in the range of $1.12 billion to $1.14 billion.

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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 UNIT at https://www.zacks.com/ap/UNIT