Crown Castle’s mobile tower site rental revenues grew approximately 5.5% to $1.310 billion, from first quarter 2019 to first quarter 2020. There was a net loss of $185 million, down 4% from a year earlier.
Capital expenditures during the quarter were $447 million, comprised of $13 million of discretionary land purchases, $21 million of sustaining capital expenditures and $413 million of discretionary capital expenditures. The discretionary capital expenditures included approximately $319 million attributable to Fiber and approximately $87 million attributable to Towers.
Jay Brown, Crown Castle’s Chief Executive Officer: “We believe our ability to offer towers, small cells and fiber solutions, which are all integral components of communications networks and are shared among multiple tenants, provides us the best opportunity to generate significant growth while delivering high returns for our shareholders. We believe that the U.S. represents the best market in the world for communications infrastructure ownership, and we are pursuing that compelling opportunity with our comprehensive offering. As we look forward to what will likely be another decade-long investment cycle for our customers with the deployment of 5G, I am excited about the opportunity we see for Crown Castle to deliver long-term value to our shareholders.”
