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BOSTON -On Tuesday, American Tower Corporation (NYSE:AMT) reported first quarter revenue that exceeded analyst expectations.
The company’s shares slipped -0.8% in premarket trading following the results.
The telecommunications real estate investment trust posted revenue of $2.56 billion for the quarter, topping the consensus estimate of $2.54 billion. Total (EPA:TTEF) property revenue increased 0.2% year-over-year to $2.49 billion.
Net income decreased 45.9% to $499 million, primarily due to foreign currency losses. Adjusted EBITDA rose 1.9% to $1.74 billion.
"The solid leasing trends we saw over the course of 2024 carried into the first quarter, with sustained demand across our global portfolio," said CEO Steven Vondran. He noted accelerating mid-band deployments and early indications of capacity-driven new site demand in the U.S. supported the company’s highest quarter of services revenue since 2021.
For the full year 2025, American Tower expects property revenue between $9.97 billion and $10.12 billion, representing 1.1% growth at the midpoint. The company projects adjusted EBITDA of $6.89 billion to $6.96 billion, up 1.6% at the midpoint.
American Tower owns and operates over 149,000 communications sites globally.
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