American Tower Earnings Cheat Sheet: Beats Estimates

S&P 500 (NYSE:SPY) component American Tower Corporation (NYSE:AMT) reported net income above Wall Street’s expectations for the second quarter. American Tower Corporation is a wireless and broadcast communications infrastructure company that develops, owns, and operates communications sites throughout the country. Among its holdings are wireless communications towers, broadcast communications towers and distributed antenna system.

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American Tower Earnings Cheat Sheet for the Second Quarter

Results: Net income for the diversified communication services company rose to $113.2 million (29 cents per share) vs. $99.7 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 13.6% from the year earlier quarter.

Revenue: Rose 27.1% to $597.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: AMT beat the mean analyst estimate of 23 cents per share. It beat the average revenue estimate of $584.7 million.

Quoting Management: Jim Taiclet, American Tower’s Chief Executive Officer stated, “Our combined U.S. and international operations delivered yet another quarter of robust growth with total rental and management revenue increasing 28% and Adjusted EBITDA up 21%. In the U.S., the two leading national wireless carriers continue to actively invest in their networks to meet rapidly expanding demand for mobile data and entertainment, both adding more equipment per site and increasing the density of their sites.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 19.9%, with the biggest boost coming in the most recent quarter when revenue rose 27.1% from the year earlier quarter.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 23 cents per share.

Net income has increased 30.9% year over year on average across the last five quarters. The biggest gain came in the second quarter of the last fiscal year, when income climbed 77.1% from the year earlier quarter.

Competitors to Watch: Crown Castle Intl. Corp. (NYSE:CCI), SBA Communications Corp. (NASDAQ:SBAC), Syniverse Holdings, Inc. (NYSE:SVR), AT&T Inc. (NYSE:T), Neustar, Inc (NYSE:NSR), WPCS International Inc. (NASDAQ:WPCS), Telephone & Data Systems, Inc. (NYSE:TDS), Sprint Nextel Corporation (NYSE:S), and Verizon Communications Inc. (NYSE:VZ).

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(Source: Xignite Financials)