American Tower Releases Second Quarter Financial Results

Today, American Towers released their second quarter and first half of 2013 financial results. The American Tower website reported these highlights for the Second Quarter of 2013:

·         Total revenue increased 15.9% to $808.8 million

·         Operating income increased 15.6% to $312.8 million

·         Cash provided by operating activities increased 8.2% to $390.5 million

The highlights for the first half of 2013 were reported as:

·         Total revenue increased 15.6% to $1,611.6 million

·         Operating income increased 12.4% to $612.5 million

·         Cash provided by operating activities increased 2.8% to $784.5 million

Jim Taiclet, American Tower’s Chief Executive Officer stated, “During the second quarter of 2013, our Core results significantly outperformed our internal expectations as demand for tower space drove robust leasing activity across our global portfolio. The combination of our extensive, high quality asset base and long-term master lease agreements with leading mobile operators resulted in strong growth in each of our key operating metrics. (Source: American Tower)