Aug 4 (Reuters) - SBA Communications ( SBAC ) raised its

annual revenue forecast and beat Wall Street estimates for

quarterly revenue on Monday, helped by steady wireless carrier

activity amid rising telecom expansion.

Mobile network operators have increased investments in cell

towers as they ramp up 5G and network infrastructure to

capitalize on growing mobile demand, benefiting SBA.

"New U.S. leasing business signed up during the quarter was

ahead of our expectations and benefited from continued high

levels of new colocations," said CEO Brendan Cavanagh.

SBA is seeing new U.S. leasing business coming more from new

lease agreements than from the modification of existing leases.

It leases space and manages tower sites for wireless

carriers including AT&T ( T ), T-Mobile and Verizon

.

Consumer demand for connectivity and bandwidth-intensive

applications remains resilient, driving up demand for SBA's

services.

The company has also entered a deal to sell all of its

Canadian operations and towers for C$446 million ($323.82

million) as part of its portfolio review.

Upon closing, which is expected in the fourth quarter, the

sale will be immediately accretive to its adjusted funds from

operations - a key measure of cash flow.

SBA now sees fiscal 2025 total revenue between $2.78 billion

and $2.83 billion, compared with its earlier projection range of

$2.72 billion to $2.76 billion.

For the quarter ended June 30, SBA reported revenue of $699

million, beating analysts' estimate of $671.1 million, according

to data compiled by LSEG.

The company posted second-quarter adjusted FFO of $3.17 per

share, compared with the $3.29 per share it reported a year ago.

($1 = 1.3773 Canadian dollars)