...A. Note: Will focus on US business, which is principally comprised of tower and datacenter platforms, which made up 55% of consolidated property revenue and 64% of property operating profit in 1Q23. 1. B. Overview: With regards to tower platform, secular tailwinds that have supported outstanding growth over last two decades remain consistent. 1. 2. Every year, US wireless subscribers consume more mobile data through a growing number of devices and applications, requiring faster speeds and lower latency performance. Due to increasing levels of data being consumed, customers are deploying more equipment in towers to meet that demand. a. b. In addition, and more than ever before, Co.'s customers are utilizing multiple bands of spectrum to deliver those high-quality ubiquitous levels of service. 3. In 2022, US carriers deployed around $40b in network capital to provide nationwide 5G services on mid-band spectrum....
