The positive results indicate that demand for data continues to grow and is pushing wireless carrier companies to lease communication infrastructure from...
- Wireless tower operator Crown Castle beat Wall Street estimates for second-quarter site rental revenue on Wednesday, aided by steady demand for communication infrastructure services.
The real estate investment trust posted second-quarter site rental revenue of $1.58 billion, beating analysts' average estimate of $1.56 billion.Crown Castle, which owns about 40,000 towers, derives majority of its revenue from leasing out tower infrastructure to wireless carriers such as AT&T, T-Mobile US and Verizon Communications in the United States on a long-term basis.
In June, the company initiated a restructuring plan which included reducing its workforce and field offices and also plans to concentrate on existing fiber networks and limit new projects. The company, which competes with American Tower and SBA Communications, maintained its outlook for full-year 2024.TD stock may look undervalued, but there are reasons for the price drop. Meanwhile, this dividend superstar has more to come. The post 1 Dividend Superstar I’d Buy Over TD Bank Stock appeared first on The Motley Fool Canada.TFSA investors can rely on these Canadian dividend stocks to earn tax-free regular passive income for decades.
Rental Revenue Steady Demand Verizon Communications
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