April 29 (Reuters) - Wireless infrastructure provider

American Tower ( AMT ) on Tuesday beat the first-quarter revenue

estimate, driven by steady demand for its leasing business.

As competition heats up in the telecommunications market,

wireless players in the United States are enhancing their 5G

solutions and network infrastructure to increase the value of

their plans.

"In the U.S., accelerating broad-based mid-band deployments

and the early indications of capacity-driven new site demand

supported our highest quarter of services revenue since 2021,"

CEO Steven Vondran said.

American Tower's ( AMT ) main customers include telecom firms like

AT&T ( T ), T-Mobile and Verizon, which

accounted for 86% of property segment revenue from the U.S. and

Canada in 2024.

For the first quarter, total revenue grew 2% to $2.56

billion compared with the analysts' estimate of $2.54 billion,

according to data compiled by LSEG.

Adjusted funds from operations (AFFO), a key measure of cash

flow, came in at $2.75 per share in the quarter compared with

$2.79 per share a year earlier.

The company's property segment, which comprises its site

leasing business, accounted for 97% of total revenue and

reported $2.49 billion in the first quarter.

American Tower ( AMT ) expects full-year 2025 total property revenue

between $9.97 billion and $10.12 billion, up from its prior

forecast of $9.92 billion to $10.07 billion.

The forecast raise reflects estimated positive impacts of

foreign currency exchange rate fluctuations on total property

revenue, American Tower ( AMT ) said.