By Ezequiel Minaya

American Tower Corp. said Monday that income slipped slightly in its latest quarter amid pressure from taxes though revenue jumped some 20%.

In the fourth quarter, income tax provisions more than double to be a $60.8 million drag on the bottom line.

For the current fiscal year, the company said it expects net income between $1.18 billion and $1.25 billion, compared with the $1.20 billion expected by analysts surveyed by Thomson Reuters. For the year, the company expects its total property revenue between $6.21 billion and $6.39 billion, compared with the $5.71 billion posted in 2016.

Shares of the company inched up 0.10% in premarket trading to $113.00

For the full year, the Boston company spent $1.4 billion to acquire over 43,000 communications sites, mostly in international markets.

The Boston company leases, owns or operates some 147,000 communication towers in the U.S. and other countries.

During its most-recent quarter, revenue in the company's property segment increased 21.6% to $1.52 billion, which was partially offset by a 58.9% slide to $18.2 million in the services business.

For the quarter ended Dec. 31, the company posted a profit of $202.4 million, or 47 cents a share, down from $205.9 million, or 48 cents a share, a year ago.

Revenue climbed 20.3% to $1.54 billion.

Analysts had forecast 58 cents in per-share earnings on revenue of $1.54 billion.

Write to Ezequiel Minaya at ezequiel.minaya@wsj.com

(END) Dow Jones Newswires

February 27, 2017 08:42 ET (13:42 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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