Filing Flows › Crown Castle (CCI) › Q3 2025
Crown Castle (CCI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Crown Castle (CCI) reported revenue of $1.1B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +1% from the quarter before. Operating margin was 49.0%, net earnings $323M (30.1% of revenue).
Crown Castle, Q3 2025: revenue $1.1B (-4% year over year), operating margin 49.0%, net earnings $323M, operating cash flow $714M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +1% | -4% |
| Operating profit | $525M | +4% | -1% |
| Net earnings | $323M | +11% | +7% |
| Operating cash flow | $714M | -14% | +2% |
| Free cash flow | $671M | -15% | +2% |
What changed
Revenue was $1.1B in Q3 2025, down 4% year over year and up 1% from the previous quarter.
Operating profit was $0.53B, a 49.0% margin (up 1.5 points year over year). Total costs fell 7% while revenue fell 4%. The fastest-growing cost line was Cost of revenue (+11%). Net earnings were $0.32B, up 7% year over year. The effective tax rate was 1.2%.
Operating cash flow was $0.71B (up 2% year over year), 221% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.20B. Capital expenditures of $0.04B left free cash flow of $0.67B.
Questions
What was Crown Castle's revenue in the third quarter 2025?
Crown Castle (CCI) reported revenue of $1.1B for the third quarter 2025 (Q3 2025), -4% from a year earlier and +1% from the quarter before.
Was Crown Castle profitable in the third quarter 2025?
Operating profit was $525M (49.0% of revenue) and net earnings $323M.
Source: Crown Castle 10-Q on SEC EDGAR.