The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kevin Kwan - RBC Capital Markets - Analyst
: David, it'd be great to hear a little bit about -- maybe you could spend a minute just talking through the outlook for each of your end markets: so
Corporate, Enterprise, Net-centric business. Obviously, you've been making a big investment on the wave side on the heels of the Sprint acquisition.
And so if you could walk us through what those end markets -- the growth rate in those end markets, that would be great.
Question: Kevin Kwan - RBC Capital Markets - Analyst
: Great. Well thank you for all that detail. Maybe just to dive in a little bit deeper on the wave side because I know investors have been very focused
on that. I know you've put out some ambitious targets to get to 25% market share against that $2 billion TAM that you mentioned.
Can you just walk us through what are the KPIs that we should be looking for? Is there a lag between the install and revenue conversion? I think
the last quarter, there's some confusion in the market around how quickly that ramp was in terms of the revenue coming online. And just help us
to bridge how you get to the $500 million over the timeline you've outlined.
Question: Kevin Kwan - RBC Capital Markets - Analyst
: Great. No, that's super helpful. Maybe to dovetail, I know you mentioned the conversion of the some of the switch centers that you acquired from
Sprint. You've been very transparent that you've been in market -- trying to market some of those facilities.
Can you give us an update on where you are in that process? There has been some focus on just the dividend yield in your stock and how you think
about capital allocation. If you are successful in selling off some of these switch centers, how do you think about applying those proceeds?
Question: Kevin Kwan - RBC Capital Markets - Analyst
: Great. That's super helpful. Can you talk a little bit about just is there a continuing integration payment drag that is continuing and when does that
sunset? And then can you talk a little bit about the capital intensity? I know you said you spent $100 billion to upgrade and you're through that
cycle. What does that capital intensity curve look like moving forward?
Question: Kevin Kwan - RBC Capital Markets - Analyst
: Right. No, it's super helpful. When -- maybe taking a step back and on the Corporate side of the business. We've sort of moved through COVID, we
have a return to office. What is that growth trajectory look like on the side of the business? What are you seeing in terms of return to office, and
uptake on bandwidth into the buildings?
Question: Kevin Kwan - RBC Capital Markets - Analyst
: Got it. We have a minute for any questions in the room. All right, I see we have twenty seconds, so I'll give you back your time, but thank you, Dave.
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