American Tower Revenues Up, Income Off For First Quarter 2015
May 1, 2015 at 3:57 AM (PT)
AMERICAN TOWER first-quarter consolidated revenue increased 9.7% year-to-year to $1.079 million, with Adjusted EBITDA up 13% to $724 million. Domestic rental and management segment revenue increased 12.9% to $718 million, while international rental and management segment revenue increased 6.2% to $344 million. Net income attributable to common stockholders fell 9.4% to $183 million (45 cents/share).
CEO JIM TAICLET said, "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 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."