American Tower Reports Strong Q2 Results and Raises Full-Year Outlook
American Tower Corporation (AMT) reported second-quarter results that exceeded revenue expectations, with property revenue rising by 6.3% to $2.69 billion due to strong leasing demand and record activity at CoreSite data centers. The company also raised its full-year guidance for key metrics including property revenue, adjusted EBITDA, and AFFO per share. Net income attributable to AMT common stockholders surged to $868 million or $1.86 per diluted share, while AFFO increased 3.8% year-over-year to $1.264 billion. The company maintained its quarterly dividend at $1.79 per share and ended the quarter with approximately $9.9 billion in liquidity. Investors are optimistic about AMT's outlook for continued growth driven by wireless infrastructure demand, despite mixed core operating metrics such as FFO that met but did not exceed estimates.
Tickers: $AMT
Topics: earnings guidance raise revenue beat