“we are well positioned to benefit from growing mobile data consumption and confident in our ability to sustain growth through the second half of the year.”

In context

“ic long-term focus enables us to benefit from the durability of tower leasing and growing mobile data and competing demand trends. Our superior global portfolio, best-in-class services and customer delivery, high-quality balance sheet, protective contracts and highly disciplined approach to capital allocation already enable us to extract significant value from the global tower landscape, but we remain motivated to continuously improve and deliver even more compelling returns to our stakeholders. Now I'll hand it over to Rod to discuss second quarter results and our revised 2025 outlook. Rod? Rodney M. Smith: Thanks, Steve, and thank you all for joining the call. As noted in this morning's press release, we had a strong second quarter driven by resilient demand across our global portfolio, we are well positioned to benefit from growing mobile data consumption and confident in our ability to sustain growth through the second half of the year. Before diving into our Q2 results and our revised full year outlook, I'll share a few highlights. First, leasing momentum remains strong, resulting in consolidated organic tenant billings growth of 4.7%. Our U.S. services business had a near-record quarter while application volumes among the big 3 were up over 50% year-over-year. This was primarily driven by amendment upgrades and a 200% year-over-year increase in co-locations. CoreSite also had an exceptional quarter with double-digit revenue growth and gross margin expansion, fueled by hybrid cloud demand and AI-related use cases. Strategically, we closed the acquisition of our DE1 data center asset in Denver and deployed over 75% of our discretionary capital in developed markets. rising to over 85% when including acquisition capital. F”