Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  American Tower Corp    AMT

Delayed Quote. Delayed  - 06/24 10:00:45 pm
108.27 USD   -2.87%
06/17 AMERICAN TOWER : Announces Conversion Rate Adjustment for 5.25% Man..
06/15 AMERICAN TOWER : ex-dividend day
06/08 AMERICAN TOWER : Building tops $6.5 million in city
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/23/2012 | 01:50pm CEST

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; melodie.warner@dowjones.com 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on AMERICAN TOWER CORP
06/17 AMERICAN TOWER CORP /MA/ : Other Events, Financial Statements and Exhibits (form..
06/17 AMERICAN TOWER CORPORATION : Announces Conversion Rate Adjustment for 5.25% Mand..
06/15 AMERICAN TOWER CORP : ex-dividend day
06/08 AMERICAN TOWER : Building tops $6.5 million in city
06/03 AMERICAN TOWER TO SPEAK AT REITWEEK : NAREIT’s Investor Forum®
06/03 AMERICAN TOWER : to Speak at Bank of America Merrill Lynch Global Telecom & Medi..
06/02 AMERICAN TOWER CORP /MA/ : Submission of Matters to a Vote of Security Holders, ..
06/02 AMERICAN TOWER CORPORATION : Declares Quarterly Distribution
05/30 AMERICAN TOWER : Jio to lease more base stations to plug gaps in urban network
05/23 AMERICAN TOWER CORPORATION : to Present at the 44th Annual J.P. Morgan Global Te..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials