Member access

4-Traders Homepage  >  Shares  >  Nyse  >  American Tower Corp    AMT   US03027X1000

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

American Tower Corp : American Tower 4Q Net More Than Doubles On Strong Revenue

02/23/2012 | 07:50am US/Eastern

American Tower Corp.'s (AMT) fourth-quarter earnings more than doubled as the company posted a double-digit increase in rental and management business revenue.

The company also forecast 2012 earnings of $660 million to $680 million on revenue between $2.67 billion and $2.71 billion. Analysts surveyed by Thomson Reuters expect income of $611 million on $2.8 billion in revenue.

The cell-tower operator, with sites in the U.S., Latin America, India and South Africa, has seen its revenue grow in recent quarters, helped by strong demand for broadband-data services in the U.S. and its ongoing global expansion. American Tower converted to a real estate investment trust in late December and has hinted it would introduce a quarterly dividend in early 2012.

American Tower reported a profit of $201.3 million, or 51 cents a share, up from $83.5 million, or 21 cents, a year earlier. Revenue jumped 19% to $653.2 million.

Analysts polled by Thomson Reuters had most recently forecast earnings of 30 cents on revenue of $652 million.

Operating margin edged up to 37.9% from 37.1%.

Revenue jumped 20% for the rental and management business, which makes up a bulk of the top line, while network-development services revenue grew 8.1%.

Shares closed Wednesday at $63.26 and were inactive premarket. The stock has risen 5.4% so far this year.

   -By Melodie Warner, Dow Jones Newswires; 212-416-2283; 

1d ago Oi hires Barclays to sell PT towers
10/03 AMERICAN TOWER : Plans Third Quarter 2014 Earnings Release and Conference Call
09/28 AMERICAN TOWER : $25,200 Federal Contract Awarded to American Tower
09/26 AMERICAN TOWER : to Participate at the ISI 6th Annual Real Estate Conference
09/23 AMERICAN TOWER : CONTRACT AWARD - Rental Space for antenna
09/23 AMERICAN TOWER : CONTRACT AWARD - Rental Space for antenna and equipment
09/23 TATA TELESERVICES MAHARASHTRA : Viom Networks may consider listing if stake sale..
09/22 AMERICAN TOWER : MA/ : Entry into a Material Definitive Agreement, Creation of a..
09/18 AMERICAN TOWER : NetAmerica Alliance Adds Partners as SMART Forges Ahead
09/18 AMERICAN TOWER : Special Notice - Rental Space for antenna
Duration : Period :
American Tower Corp Technical Analysis Chart | AMT | US03027X1000 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes