Shares of SBA Communications (Ticker: SBA) surged in after-hours trading on Monday following the release of their impressive second-quarter financial results and the announcement of a long-term master lease agreement with AT&T.
At 5:49 p.m. ET, SBA stock was trading at $227.88 per share, reflecting a 4% increase. The stock had remained relatively stable during the regular trading session, closing at $218.95.
Financial Highlights:
- Earnings per share for the second quarter were $1.87, a significant improvement from the year-ago period when it was 64 cents.
- Revenue for the quarter reached $678.5 million, compared to $652 million in the same period last year.
- SBA Communications projects its revenue for 2023 to be between $2.71 billion and $2.75 billion.
New Partnership with AT&T:
SBA Communications has also entered into an extensive long-term master lease agreement with AT&T. This strategic collaboration aims to facilitate AT&T's smooth deployment of 5G and other cutting-edge technologies across SBA's vast tower portfolio in the United States.
About SBA Communications:
SBA Communications is a leading provider of wireless communication infrastructure, owning and operating thousands of towers across North, Central, and South America. The company offers essential infrastructure to wireless service providers and other organizations, enabling seamless connectivity for millions of users. With a strong commitment to innovation and technological advancements, SBA Communications plays a crucial role in the expansion of mobile networks and the advancement of wireless communication technologies.
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