American Tower Corp. (AMT) reported that its first-quarter net income attributable to company decreased to $171.41 million or $0.43 per share, from $221.31 million or $0.56 per share last year. Adjusted funds from operations per Share was $0.90 compared to $0.82 prior year.
Total operating revenues increased to $802.73 million from $696.52 million last year. Total rental and management revenue increased 13.7% to $777.4 million. Total rental and management revenue core growth was approximately 20.3%.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit of $0.48 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $791.89 million for the quarter.
The company expects to reports total rental and management revenue in the range of $3.16 billion to $3.21 billion, adjusted funds from operations in the range of $1.42 billion to $1.47 billion, and net income in the range of $765 million to $840 million for fiscal 2013.
For comments and feedback: editorial@rttnews.com