Tuesday, May 1, 2018

American Tower reports robust demand as sales grow 7.8% yoy

American Tower reported revenue of $1.742 billion for Q1 2018, up 7.8% over last year.

“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. Notably, record levels of new business commencements, along with a robust pipeline of applications for both amendments and new colocations resulted in our increase in expectations for full year U.S. Organic Tenant Billings Growth to approximately 6.5% in 2018," stated Jim Taiclet, American Tower’s Chief Executive Officer.

During Q1, American Tower spent approximately $673 million to acquire nearly 10,600 sites primarily in international markets, including approximately 10,200 sites in India as part of its previously announced transaction with Vodafone India Limited.

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