American Tower Rocks Double-Digit Growth

 By John Celentano, Inside Towers Business Editor American Tower (NYSE: AMT) reported its Q3 results with double-digit growth across all key metrics on a year-over-year basis.
 

 

Total property revenues grew to $2.4 billion in 3Q21, up over 19 percent from $2.0 billion in 3Q20. In AMT’s domestic markets, comprising the U.S. and Canada, revenue grew 10 percent to $1.2 billion, accounting for 52 percent of the total. 

International markets showed the biggest revenue gains from organic growth and acquisitions, particularly Telxius in Europe, growing 32 percent to $1.1 billion. AMT closed the last tranche of the Telxius deal during the quarter, adding 4,000 towers in Germany. In the same period, Adjusted EBITDA grew nearly 20 percent to $1.6 billion while consolidated AFFO increased 13 percent to $1.2 billion.  Continue Reading