American Tower Q1 Revenue Up 15.2%
May 2, 2013 at 4:17 AM (PT)
AMERICAN TOWER CORPORATION first quarter 2013 total revenue increased 15.2% to $802.7 million, with operating income up 9.2% to $299.7 million. The company's domestic rental and management segment revenue increased 5.9% to $515.7 million, with international rental and management segment revenue rising 32.9% to $261.8 million.
CEO JIM TAICLET said, "Our strong first quarter results, enhanced network investment programs announced by wireless carriers in the U.S. and around the world, and my recent interactions with our field teams on the ground all confirm continuing robust demand for tower space. Leading the charge toward pervasive 4G services are our four major U.S. tenants, who we believe will need to substantially upgrade their existing networks to meet the capacity and elevated signal quality required to deliver services such as LTE video and voice over IP."
The company paid its first quarter distribution of $0.26 per share on APRIL 25th.