American Tower Corporation (NYSE:AMT) Reports 1Q18 Profit Up 10%; Beats Street View

American Tower Corporation (NYSE:AMT) reported net income for the first quarter of $ 275.80 million or $ 0.63 per share, compared to income of $ 289.30 million or $ 0.67 per share for the year-ago quarter.

The company reported first quarter adjusted ffo income of $ 759.30 million or $ 1.73 per share.

The topline results for the first quarter rose 8% to $ 1.74 billion from $ 1.62 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected American Tower Corporation to report income of $ 0.76 per share on revenue of $ 1.73 billion for the first quarter.

Jim Taiclet, CEO, stated,the strong demand we experienced in late 2017 for our telecommunications real estate further accelerated in the U.S. as well as in our Latin America and EMEA regions in the first quarter of 2018.

The CEO, added, We remain confident that our U.S. macro tower business, complemented by our franchise small cell installations, extensive international portfolio and emerging innovation initiatives will continue to drive strong growth and attractive total returns for many years to come.

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