Monday, May 2, 2016

American Tower Revenues Shoot to the Moon

American Tower Corporation (NYSE: AMT) this morning reported its total first quarter revenue increased 19.4 percent to $1.29 billion during the first quarter that ended March 31, 2016. The global giant said its U.S. revenue grew 19 percent to $852 million while International revenue was up 21 percent to $416 million. The company saw its business in Latin America grow 5.7 percent, Europe, Middle East and Africa increase 71 percent respectively, and Asia business increased 11 percent. Its small services segment grew 24% to $21 million.
“The global proliferation of Smartphones is driving significant growth in subscriber demand for higher bandwidth applications,” said American Tower’s CEO Jim Taiclet. “As a result, during the first quarter, we continued to experience solid leasing demand across our served markets as mobile operators invest in their networks to manage key performance factors, including coverage, capacity and peak network speed. Continue Reading

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