American Tower said today that it already has more than 900 lease applications in the pipeline for the tower portfolio it recently acquired from Verizon. The nation’s largest wireless carrier recently sold its towers to American Tower for $5.0 billion.
American Tower shared an update on those towers as part of its second-quarter earnings report. The company said revenue increased 14% to almost $1.2 billion and operating income rose almost 12% to $762 million. The company built 12 new towers during the quarter.
Verizon Wireless and T-Mobile US remained American Tower’s biggest customers during the most recent quarter. The company’s CEO Jim Taiclet said he remains hopeful that AT&T and Sprint will start spending more heavily in the near future, but he can’t predict when that will be.
