April 22 (Reuters) - Wireless tower operator Crown

Castle ( CCI ) beat Wall Street estimates for first-quarter site

rental revenue on Wednesday, signaling solid leasing momentum as

wireless carriers and service providers expand network capacity.

Growing data consumption is driving wireless carriers to

expand their leasing of tower infrastructure from operators like

Crown Castle ( CCI ), with rapid growth of AI applications seen as a

further catalyst.

The real estate investment trust is looking to transition

into a pure-play tower operator, following the sale of its fiber

and small cell assets, which are now largely completed and

expected to close in the first half of 2026.

Crown Castle ( CCI ) has over 40,000 cellular towers across the

U.S., with its largest tenants T-Mobile, AT&T ( T ) and

Verizon collectively accounting for nearly 90% of its

2025 site rental revenues.

Here are some details:

* The company reported site rental revenue of $961 million

for the quarter ended March 31, compared with an estimate of

$947.1 million, according to data compiled by LSEG.

* "With a clear standalone tower strategy, a disciplined

capital allocation framework, and an investment-grade balance

sheet, we are well-positioned to deliver attractive and

sustainable shareholder returns," CEO Chris Hillabrant said in a

statement.

* Crown Castle ( CCI ) reaffirmed its 2026 forecast.

* In February, Crown Castle ( CCI ) said it would reduce its tower

and corporate workforce by around 20%, which, along with other

cost reductions, would result in around $65 million in

annualized operating cost savings.