Earnings Per Share

9 Months Ended

Sep. 30, 2024

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of

Class A common stock outstanding adjusted for any dilutive Class A common stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted net income per common share attributable to common shareholders for the three and nine months ended September 30, 2024 and 2023 (in thousands, except per share data):



	For the three months				For the nine months
	ended September 30,				ended September 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to SBA
Communications Corporation	$	258,534	$	87,419	$	575,906	$	392,284
Denominator:
Basic weighted-average shares outstanding		107,486		108,373		107,683		108,288
Dilutive impact of stock options, RSUs, and PSUs		436		518		389		729
Diluted weighted-average shares outstanding		107,922		108,891		108,072		109,017
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	2.41	$	0.81	$	5.35	$	3.62
Diluted	$	2.40	$	0.80	$	5.33	$	3.60

For the three and nine months ended September 30, 2024 and 2023, the diluted weighted-average number of common shares outstanding excluded an immaterial number of shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.