Overview

* American Tower ( AMT ) Q3 revenue rises 7.7%, beating analyst expectations

* Net income for Q3 rises 216.9%, driven by prior year currency losses

* Adjusted EBITDA for Q3 beats estimates, increasing 7.6%

Outlook

* American Tower ( AMT ) raises 2025 property revenue midpoint by $40 mln

* Company expects 2025 Adjusted EBITDA between $7.058 bln and $7.113 bln

* Company forecasts 2025 AFFO per share between $10.60 and $10.72

Result Drivers

* LEASING ACTIVITY - Robust leasing activity across U.S. and international towers contributed to revenue growth

* DATA CENTER DEMAND - Strong hybrid-cloud demand and rising AI-related workloads drove data center business performance

* FOREIGN CURRENCY IMPACT - Significant increase in net income due to absence of prior year foreign currency losses

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $2.71 $2.64

Revenue bln bln (16

Analysts

)

Q3 Net $913 mln

Income

Q3 Beat $1.81 $1.77

Adjusted bln bln (14

EBITDA Analysts

)

Q3 $2.78

Adjusted

FFO Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for American Tower Corp ( AMT ) is $240.00, about 20.9% above its October 27 closing price of $189.73

* The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)