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American Tower 4Q Profit Up 30% On Stronger-Than-Expected Revenue

DOW JONES NEWSWIRES American Tower Corp. (AMT) reported its fourth-quarter earnings rose 30% as improving rental and management revenue masked sliding margins. Cell-tower operators have benefited from volume increases as wireless carriers continue to grow, prompting them to spend more on upgrades. The company has continued its global expansion, announcing in December that it would pay $428 million to own 51% of a joint venture in Ghana with African wireless provider MTN Group. This came on the heels of a $430 million acquisition of 1,4000 towers from a South African company in November. It also launched operations in Colombia and Peru and expanded threefold in India earlier in the year. American Tower reported a fourth-quarter profit of $83.5 million, or 21 cents a share, up from $64.4 million, or 16 cents, a year earlier. Revenue increased 22% to $547.6 million. Analysts polled by Thomson Reuters were looking for earnings of 22 cents a share on revenue of $538 million. Operating margin slid to 37.1% from 39.4%. Rental and management revenue climbed 23% to $536.3 million, while network development services revenue slipped 11%. Shares closed at $52.98 and were inactive premarket. -By Lauren Pollock and Lee Roberts, Dow Jones Newswires; 212-416-2356; lauren.pollock@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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