Aug 4 (Reuters) - SBA Communications SBAC.O 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.N, T-Mobile TMUS.O and Verizon VZ.N.

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)

(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)

((Juby.Babu@thomsonreuters.com))