![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, February 25, 2011 9:17:33 PM
http://ih.advfn.com/p.php?pid=nmona&article=46585489
American Tower 4Q Profit Up 30% On Stronger-Than-Expected Revenue
Date : 02/23/2011 @ 7:55AM
Source : Dow Jones News
Stock : American Tower Corp. (AMT)
Free American Tower Corp. Annual Company Report
American Tower 4Q Profit Up 30% On Stronger-Than-Expected Revenue
American Tower (NYSE:AMT)
1 Month : January 2011 to February 2011
Click Here for more American Tower Charts.
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
$AMT
Recent AMT News
- American Tower Plans Second Quarter 2024 Earnings Release and Conference Call • Business Wire • 06/27/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 08:03:44 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/04/2024 08:44:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:14:26 PM
- Form CERT - Certification by an exchange approving securities for listing • Edgar (US Regulatory) • 06/03/2024 08:16:27 PM
- Form 8-A12B - Registration of securities [Section 12(b)] • Edgar (US Regulatory) • 05/29/2024 08:28:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/29/2024 08:15:59 PM
- CoreSite Strengthens Native Cloud Ecosystem at Chicago Data Center Campus with AWS Direct Connect • Business Wire • 05/29/2024 03:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 12:19:03 PM
- American Tower Corporation Declares Quarterly Distribution • Business Wire • 05/23/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:37:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 08:36:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 08:34:33 PM
- American Tower Corporation Prices Senior Notes Offering • Business Wire • 05/22/2024 08:30:00 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 05/22/2024 08:15:49 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/22/2024 10:05:11 AM
- CRN Recognizes Three CoreSite Leaders on the 2024 Women of the Channel List • Business Wire • 05/21/2024 03:00:00 PM
- American Tower Corporation Announces Participation in Upcoming Investor Conferences • Business Wire • 05/10/2024 08:30:00 PM
- American Tower Corporation Reports First Quarter 2024 Financial Results • Business Wire • 04/30/2024 11:00:00 AM
- CoreSite Helps Customers Accelerate Artificial Intelligence Adoption as NVIDIA DGX-Ready Data Center Partner • Business Wire • 04/09/2024 03:00:00 PM
- American Tower Plans First Quarter 2024 Earnings Release and Conference Call • Business Wire • 04/04/2024 08:30:00 PM
- American Tower Corporation Announces Election of Neville R. Ray to Board of Directors and Declares Quarterly Distribution • Business Wire • 03/14/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 10:07:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 09:15:37 PM
- CoreSite Featured in the CRN 2024 Data Center 50 List • Business Wire • 03/07/2024 04:00:00 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM