American Tower Corp. Profit Rises In Q1, Beats estimates

(RTTNews) - American Tower Corp. (AMT) announced earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $711.7 million, or $1.56 per share. This compares with $645.0 million, or $1.45 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.1% to $2.66 billion from $2.16 billion last year.

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

-Earnings (Q1): $711.7 Mln. vs. $645.0 Mln. last year. -EPS (Q1): $1.56 vs. $1.45 last year. -Analyst Estimate: $1.12 -Revenue (Q1): $2.66 Bln vs. $2.16 Bln last year.

-Guidance: Full year revenue guidance: $10,295 -$10,475 Mln