The company’s adjusted funds from operations per share for the year are now expected to reach between $11 and $11.17, an increase from the earlier forecast of $10.90 to $11.07. This upward revision follows a strong second quarter, where American Tower reported $2.75 billion in revenue, surpassing analyst expectations of $2.7 billion. Net profit surged to $867.5 million, or $1.86 per share, compared to $366.8 million during the same period last year.
In section Market Quotes
American Tower Lifts Annual Outlook Amid Surging Digital Demand
Shares of American Tower climbed 4.7% to $174.62 on Tuesday after the real estate investment trust raised its full-year guidance. Driven by robust leasing activity and a steady rise in mobile data consumption, the company now projects property revenue growth of approximately 4.5%, outperforming its previous estimate of 3.4%.
Chief Executive Steve Vondran attributed the gains to consistent leasing demand across the company’s portfolio, noting record activity at its CoreSite operations. Vondran remains optimistic about the firm's trajectory, citing secular trends such as the scaling of AI-driven applications, cloud adoption, and the ongoing evolution of global network architectures. As mobile data usage continues to climb, the company is positioning its digital infrastructure to capture a multi-year demand cycle from clients expanding network density and capacity.
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