American Tower (AMT) Tops Q1 AFFO by 9c

American Tower (NYSE: AMT) reported Q1 AFFO of $1.25, $0.09 better than the analyst estimate of $1.16. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.07 billion.

American Tower sees FY2015 rental and management revenue of $4.555-$4.605 billion, versus the consensus of $4.68 billion.

Jim Taiclet, American Tower's Chief Executive Officer stated, "Our U.S. and international operations maintained strong leasing momentum through the first quarter of 2015, driving global Organic Core Growth of over 9%. We also completed the largest tower transaction in the domestic tower industry’s history by adding over 11,400 Verizon assets to our portfolio. Additionally, in Latin America, we closed on nearly 4,200 TIM Brazil sites in April.

Our regional management teams are intently focused on integrating these assets and closing our Airtel Nigeria transaction as quickly and efficiently as possible. These three portfolios solidify our strategic positioning in the most populous countries in North America, South America and EMEA, respectively, securing our ability to benefit from their vibrant wireless markets far into the future."

For earnings history and earnings-related data on American Tower (AMT) click here.

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