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Crown Castle Streamlines Capital Expenditures In Fiber Segment, Cuts Jobs, Revises Guidance & More

Crown Castle Inc. (NYSE:CCI) shares are trading higher after the company revealed plans to improve operational performance and has provided an updated outlook for FY24. As part of its operational review, Crown Castle uncovered opportunities for future demand for enterprise fiber and small cells adjacent to its existing high-quality fiber footprint, which encompasses 90,000 route miles across 48 of the top 50 most populated U.S. cities. In January 2024, Crown Castle began a comprehensive strategic and operational review of its Fiber segment. Crown Castle aims to boost returns on small cells by focusing on collocations and network-adjacent anchor nodes near its existing network. It plans to reduce capital intensity and prioritize higher-return projects by shifting strategy. Due to operational changes and project delays, the company ...