American Tower: Fourth Quarter Earnings Overview
American Tower Reports Strong Fourth Quarter Results
American Tower Corp., headquartered in Boston, announced its fourth-quarter financial performance on Tuesday, revealing results that exceeded analyst expectations.
The real estate investment trust disclosed funds from operations totaling $1.23 billion for the quarter, which equates to $2.63 per share.
According to Zacks Investment Research, a consensus of five analysts had projected funds from operations at $2.54 per share, meaning American Tower outperformed these forecasts.
Funds from operations, a key metric for REITs, is calculated by adjusting net income to add back non-cash expenses such as depreciation and amortization.
During the same period, the company reported net income of $820.7 million, or $1.75 per share.
Revenue for the quarter reached $2.74 billion, surpassing the $2.68 billion anticipated by analysts surveyed by Zacks. American Tower specializes in wireless communications infrastructure.
For the full year, the company achieved $5.04 billion in funds from operations, or $10.76 per share, with total revenue amounting to $10.64 billion.
Looking ahead, American Tower anticipates funds from operations for the upcoming year to fall between $10.78 and $10.95 per share.
Since the start of the year, American Tower's stock price has risen by 8%, while the S&P 500 index has remained relatively unchanged. Over the past twelve months, the company's shares have declined by nearly 1%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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