Gold prices edge lower; heading for weekly losses ahead of U.S.-Russia talks
BOSTON -On Tuesday, American Tower Corporation (NYSE: NYSE:AMT) reported fourth quarter financial results that exceeded analyst expectations, as the cell tower operator saw solid demand across its global portfolio.
American Tower shares were down 0.07% in pre-market trading following the earnings release.
The company posted adjusted funds from operations (AFFO) of $2.32 per share in Q4, up from $2.29 per share in the year-ago quarter and above the consensus estimate. Revenue rose 3.7% year-over-year to $2.55 billion, topping analyst projections of $2.52 billion.
For the full year 2024, American Tower generated AFFO of $10.54 per share on revenue of $10.13 billion.
"We posted another year of solid results at American Tower, delivering AFFO per Share growth supportive of our long-term target, while demonstrating effective execution of the strategic priorities I laid out a year ago," said CEO Steven Vondran.
Looking ahead, the company forecast 2025 AFFO in a range of $10.31 to $10.50 per share. American Tower expects 2025 revenue between $9.92 billion and $10.07 billion.
The company said demand for connectivity across its global platform continues unabated, despite a challenging macroeconomic environment.
It believes strategic steps taken to enhance earnings quality through portfolio management and disciplined capital allocation have positioned it well to navigate volatility.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.