American Tower Corp. Announces Fall In Q1 Bottom Line, misses estimates

(RTTNews) - American Tower Corp. (AMT) reported a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $335.8 million, or $0.72 per share. This compares with $711.7 million, or $1.56 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $2.77 billion from $2.66 billion last year.

American Tower Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $335.8 Mln. vs. $711.7 Mln. last year. -EPS (Q1): $0.72 vs. $1.56 last year. -Analyst Estimates: $1.09 -Revenue (Q1): $2.77 Bln vs. $2.66 Bln last year.