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American Tower 2Q Net Up 77% On Revenue Increase, Lower Taxes

DOW JONES NEWSWIRES American Tower Corp.'s (AMT) second-quarter earnings rose 77%, beating analysts' estimates, as the company's revenue jumped and it recorded lower tax expenses. Chief Executive Jim Taiclet gave a positive outlook on the company's business, saying, "We believe strongly that consumer demand for advanced integrated devices and broadband data services will necessitate robust network investment on the part of wireless carriers around the world." Cell-tower operators like American Tower - which operates wireless-communication towers in the U.S., Mexico, Brazil and India - have posted stronger results in recent quarters as demand continues to ramp up from wireless carriers who are looking to improve their service. American Tower reported a profit of $99.7 million, or 25 cents a share, up from $56.3 million, or 14 cents a share, a year earlier. Revenue jumped 11% to $469.9 million. Analysts polled by Thomson Reuters had most recently forecast earnings of 20 cents on $466 million in revenue. Operating margin rose to 40.1% from 39.3%. Meanwhile, tax provisions declined to $30.4 million from $51.4 million. Shares closed at $46.69 Monday and were inactive premarket. The stock has risen 34% in the past year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Stock News for American Tower (AMT)
DateTimeHeadline
02/03/201616:30:00American Tower Plans Fourth Quarter and Full Year 2015 Earnings...
01/20/201616:30:00American Tower Corporation Announces Tax Reporting Information...
01/12/201616:31:26Current Report Filing (8-k)
01/11/201616:19:45Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/08/201617:29:44Current Report Filing (8-k)
01/08/201617:25:00American Tower Corporation Prices Senior Notes Offering
01/08/201617:01:29Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
01/08/201609:28:29Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
12/30/201516:30:00American Tower Corporation to Webcast Keynote at the 2016 Citi...
12/17/201516:43:03Statement of Changes in Beneficial Ownership (4)
12/10/201507:08:33Current Report Filing (8-k)
12/03/201516:38:52Current Report Filing (8-k)
12/03/201516:30:00American Tower Corporation Declares Quarterly Distribution
11/30/201517:00:00American Tower Corporation to Hold Investor Day on December 10...
11/23/201516:38:03Tech Dividends: Finding Yields That Are Real
11/18/201516:59:30Statement of Changes in Beneficial Ownership (4)
11/18/201516:58:12Statement of Changes in Beneficial Ownership (4)
11/10/201516:30:00American Tower Corporation to Present at the 2015 Morgan Stanley...
11/05/201516:30:00American Tower Corporation to Present at the Wells Fargo 2015...
10/31/201509:00:27American Tower Corp Earnings Fueled by Exponential Growth in...

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