American Tower Q2 Profit Declines - Quick Facts

(RTTNews) - American Tower Corp. (AMT) reported that second-quarter net income attributable to common stockholders declined to $129.3 million or $0.30 per share, from $230.1 million or $0.58 per share in the prior-year quarter.

Adjusted Funds From Operations or AFFO increased to $536.8 million or $1.26 per share from $473.9 million or $1.19 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.20 per share. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter grew 13.9 percent to $1.17 billion from $1.03 billion in the comparable quarter last year, while 16 analysts had a consensus revenue estimate of $1.18 billion for the quarter.

Looking ahead for 2015, the company now expects net income to be in the range of $705 million to $735 million, AFFO of $2.10 billion to $2.14 billion, and total rental and management revenue between $4.65 billion and $4.70 billion. Analysts expect the company to report earnings of $4.94 per share and revenues of $4.76 billion for fiscal 2015.

Earlier, the company expected net income to be in the range of $830 million to $860 million, AFFO of $2.04 billion to $2.08 billion, and total rental and management revenue between $4.56 billion and $4.61 billion.