American Tower Second Quarter Revenues, Income Jump
August 1, 2013 at 4:25 AM (PT)
AMERICAN TOWER CORP. second quarter revenue rose 15.9% to $808 million, with operating income up 15.6% to $312,8 million. The revenue boost came in both domestic (10.1%) and international (28.4%) rental and management segments. Net income attributable to AMERICAN TOWER CORPORATION increased 107.1% to $99.8 million (25 cents/share).
CEO JIM TAICLET said, “During the second quarter of 2013, our Core results significantly outperformed our internal expectations as demand for tower space drove robust leasing activity across our global portfolio. The combination of our extensive, high quality asset base and long-term master lease agreements with leading mobile operators resulted in strong growth in each of our key operating metrics.
"We expect the favorable leasing trends we have seen so far this year to continue generating solid Core performance, offsetting potential headwinds from the translation of foreign currency exchange rates. As a result, we are reaffirming our full year outlook for total rental and management revenue and raising our full year outlook for Adjusted EBITDA by $5 million and AFFO by $10 million.”