SBA Communications' (SBAC) Q2 AFFO Beat, Revenues Fall Y/Y

SBA Communications Corporation (SBAC) reported second-quarter 2024 adjusted funds from operations (AFFO) per share of $3.29, beating the Zacks Consensus Estimate by a whisker. Moreover, the figure reflects a rise of 1.5% from the prior-year quarter. Quarterly total revenues decreased 2.7% year over year to $660.5 million. The figure also missed the Zacks Consensus Estimate of $664.5 million. Quarter in Detail However, site development revenues decreased 35% year over year to $34 million. The overall operati ...