“Growth in Latin America remains muted relative to historical trends our expectations for persisting low single-digit growth through 2027 remain unchanged.”

In context

“future growth benefits and in the near term are bringing energy and momentum to 5G rollout activity. In our emerging markets, we've raised our outlook due to a mix of FX tailwinds and core leasing outperformance. Our Africa business continues to post robust growth results benefiting from a stabilized lower churn carrier landscape, better consumer pricing in key markets and supportive demand dynamics. 5G maturity remains limited in the region, with most activity focused on 4G rollout and in densification but we do see early 5G deployments continue to progress in select urban areas, propelled by use cases of fixed wireless. Activity has improved in markets like Nigeria, where higher consumer prices are supporting better carrier economics and unlocking stronger levels of network investment. Growth in Latin America remains muted relative to historical trends our expectations for persisting low single-digit growth through 2027 remain unchanged. However, consolidation has normalized in Brazil and new activities anticipated across the more stabilized 3-player market as carriers work to fulfill regulatory commitments in the region and realize better margins from higher ARPUs. Our outlook for the region has modestly increased but along with some improvements in markets like Brazil, we're seeing continued elevated levels of churn as carriers rationalize the infrastructure and acquire the consolidation activity. Moving to our data center business. We continue to see exceptional performance from CoreSite and have increased our 2025 expectations to reflect new growth attributable to the recently acquired DE1 facility as well as elevated demand and pricing from our broader portfolio of interconnection data center facilities. Hybrid and m”