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American Tower Corp. Q3 adjusted earnings Beat Estimates

American Tower Corp. (AMT) reported a profit for third quarter that dropped from last year.

The company's profit totaled $464.4 million, or $1.04 per share. This compares with $498.6 million, or $1.12 per share, in last year's third quarter.

Excluding items, American Tower Corp. reported adjusted earnings of $996.9 million or $2.23 per share for the period.

Analysts had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.1% to $2.01 billion from $1.95 billion last year.

American Tower Corp. earnings at a glance:

-Earnings (Q3): $996.9 Mln. vs. $861.0 Mln. last year.
-EPS (Q3): $2.23 vs. $1.93 last year.
-Analysts Estimate: $1.10
-Revenue (Q3): $2.01 Bln vs. $1.95 Bln last year.

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