American Tower Revenues Rise In Third Quarter
October 30, 2015 at 4:39 AM (PT)
AMERICAN TOWER third-quarter 2015 total revenue increased 19.2% to $1.238 billion, with Adjusted EBITDA up 17% to $779 million. Domestic rental and management saw a 21.8% increase to $808 million, while international business rose 16.5% to $405 million. Net income attributable to common stockholders fell 61.9% to $76 million (18 cents/basic and diluted share), attributed to the one-time GLOBAL TOWER PARTNERS tax fee of $93 million paid when the GTP REIT was folded into the AMERICAN TOWER REIT, as well as unfavorable foreign exchange rates.
CEO JIM TAICLET said, "Our nearly 14% growth in AFFO per Share in the third quarter was fueled by continuing exponential growth in mobile data demand in both the U.S. and in our international markets. We believe that this growth in demand will go on for many years to come, driven by a combination of lower cost smartphones proliferating around the world, additional spectrum being deployed for mobile data and the competitive imperative for mobile operators to steadily invest in their networks.
"Our strategic objective is to capture this long-term growth opportunity by building strong positions in the world’s largest free market economies with attractive wireless industry structures. So far in 2015, we have made tremendous progress on expanding AMERICAN TOWER’s global growth platform through our acquisitions of rights to the VERIZON towers in the U.S., TELECOM ITALIA’s towers in BRAZIL, AIRTEL’s portfolio in NIGERIA and our recently announced VIOM transaction in INDIA. We expect that these strategically located assets will further lengthen and strengthen our AFFO per Share growth trajectory well into the future."