Leading international wireless tower operator, American Tower Corp AMT is scheduled to report third-quarter 2017 financial numbers on October 31, before the opening bell.
Last quarter, the company delivered a positive earnings surprise of 4.35 percent. Moreover, the company’s earnings surpassed the Zacks Consensus Estimate in all the last four quarters, with an average beat of 3.91 percent.
According to Zacks Equity Research, American Tower continues to benefit from increased investment of wireless carriers in 5G networks. Next-generation 4G LTE, 5G networks and increased usage of smartphones and tablets are driving demand for tower leasing. Additionally, the company’s increased investments in Asia are paying off, Zackssaid. These benefits are likely to be reflected in the upcoming quarterly results. Further, we believe that the company’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers should drive top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50 percent of its organic core revenue growth.
October 30, 2017
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