American Tower: Strong Demand for Tower Space

American Tower released their second quarter earnings where total revenue increased 13.9% to $1,174 million, adjusted EBITDA increased 11.7% to $762 million, and AFFO increased 13.3% to $537 million. Jim Taiclet, American Tower’s Chief Executive Officer stated, “Our second quarter 2015 results reflected yet another quarter of strong demand for our tower space both domestically and abroad. In the U.S., we are rapidly integrating our Verizon portfolio, which already has more than 900 lease applications in its pipeline. Internationally, leasing activity from our top customers, including Telefónica, América Móvil and Airtel, drove Organic Core Growth in revenue of nearly 12%. In addition, we are confident that the customer network investment trends developing in markets like Mexico, India and Brazil position us well to not only deliver 2015 Core Growth of over 20% in rental and management revenue, Adjusted EBITDA and AFFO, but also to drive compelling growth in all three of these metrics well into the future.” Read the entire report here.