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By Stephen Nakrosis
Shares of SBA Communications were on the rise in Monday’s after-hours marke following the company’s release of second-quarter financial results and news of a new long-term master lease agreement with AT&T.
At 5:49 p.m. ET, the company’s stock was trading 4% higher, at $227.88 per share. The stock finished the day’s regular session essentially unchanged at $218.95.
After the bell, the company reported earnings per share of $1.87 on revenue of $678.5 million. In the year-ago period, the company reported EPS of 64 cents on revenue of $652 million.
SBA said it expects 2023 revenue in a range of $2.71 billion and $2.75 billion.
The company also said it entered a new long-term master lease agreement with AT&T, which will streamline AT&T’s deployment of 5G and other next generation technology across SBA’s U.S. tower portfolio.
Write to Stephen Nakrosis at [email protected]
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