American Tower Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - American Tower Corp. (AMT) released a profit for its first quarter that advanced from the same period last year.

The company's bottom line came in at $645.0 million, or $1.45 per share. This compares with $415.0 million, or $0.93 per share, in last year's first quarter.

Excluding items, American Tower Corp. reported adjusted earnings of $1.10 billion or $2.46 per share for the period.

Analysts had expected the company to earn $1.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.5% to $2.16 billion from $1.99 billion last year.

American Tower Corp. earnings at a glance:

-Earnings (Q1): $1.10 Bln. vs. $0.95 Bln. last year. -EPS (Q1): $2.46 vs. $2.12 last year. -Analysts Estimate: $1.27 -Revenue (Q1): $2.16 Bln vs. $1.99 Bln last year.