CyrusOne: 4Q Earnings Snapshot

DALLAS (AP) _ CyrusOne Inc. (CONE) on Wednesday reported a key measure of profitability in its fourth quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Dallas, said it had funds from operations of $114.3 million, or 94 cents per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 92 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 $19 million, or 15 cents per share.

The data center operator posted revenue of $268.4 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $265.3 million.

For the year, the company reported funds from operations of $459.4 million, or $3.90 per share. Revenue was reported as $1.03 billion.

CyrusOne expects full-year funds from operations in the range of $3.90 to $4 per share, with revenue in the range of $1.11 billion to $1.15 billion.

The company's shares have decreased 3.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.59, a rise of 5.5% 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 CONE at https://www.zacks.com/ap/CONE