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American Tower (AMT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, American Tower (AMT - Free Report) reported revenue of $2.83 billion, up 2.4% over the same period last year. EPS came in at $2.79, compared to $0.72 in the year-ago quarter.
The reported revenue represents a surprise of +1.12% over the Zacks Consensus Estimate of $2.8 billion. With the consensus EPS estimate being $2.55, the EPS surprise was +9.41%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how American Tower performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. & Canada - Ending Balance: 42,427 versus 42,451 estimated by three analysts on average.
Total - Ending Balance: 222,643 compared to the 223,478 average estimate based on three analysts.
Organic Tenant Billings Growth - Total International: 6.5% compared to the 5.3% average estimate based on three analysts.
International - Ending Balance: 180,216 versus 181,090 estimated by three analysts on average.
Geographic Revenues- U.S. & Canada: $1.31 billion versus the three-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of +1.8%.
Geographic Revenues- Total International: $1.27 billion compared to the $1.23 billion average estimate based on three analysts. The reported number represents a change of +3.7% year over year.
Geographic Revenues- Africa: $292 million versus the two-analyst average estimate of $299.70 million. The reported number represents a year-over-year change of -7.9%.
Geographic Revenues- Europe: $205 million versus $196.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.
Geographic Revenues- Asia-Pacific: $327 million compared to the $293.64 million average estimate based on two analysts. The reported number represents a change of +30.3% year over year.
Total operating revenues- Data Centers: $225 million versus the three-analyst average estimate of $220.21 million. The reported number represents a year-over-year change of +10.8%.
Total operating revenues- Services: $30 million compared to the $26.29 million average estimate based on three analysts. The reported number represents a change of -43.4% year over year.
Total operating revenues- Total Property: $2.80 billion compared to the $2.76 billion average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
Shares of American Tower have returned -9.3% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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American Tower (AMT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, American Tower (AMT - Free Report) reported revenue of $2.83 billion, up 2.4% over the same period last year. EPS came in at $2.79, compared to $0.72 in the year-ago quarter.
The reported revenue represents a surprise of +1.12% over the Zacks Consensus Estimate of $2.8 billion. With the consensus EPS estimate being $2.55, the EPS surprise was +9.41%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how American Tower performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- U.S. & Canada - Ending Balance: 42,427 versus 42,451 estimated by three analysts on average.
- Total - Ending Balance: 222,643 compared to the 223,478 average estimate based on three analysts.
- Organic Tenant Billings Growth - Total International: 6.5% compared to the 5.3% average estimate based on three analysts.
- International - Ending Balance: 180,216 versus 181,090 estimated by three analysts on average.
- Geographic Revenues- U.S. & Canada: $1.31 billion versus the three-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of +1.8%.
- Geographic Revenues- Total International: $1.27 billion compared to the $1.23 billion average estimate based on three analysts. The reported number represents a change of +3.7% year over year.
- Geographic Revenues- Africa: $292 million versus the two-analyst average estimate of $299.70 million. The reported number represents a year-over-year change of -7.9%.
- Geographic Revenues- Europe: $205 million versus $196.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.8% change.
- Geographic Revenues- Asia-Pacific: $327 million compared to the $293.64 million average estimate based on two analysts. The reported number represents a change of +30.3% year over year.
- Total operating revenues- Data Centers: $225 million versus the three-analyst average estimate of $220.21 million. The reported number represents a year-over-year change of +10.8%.
- Total operating revenues- Services: $30 million compared to the $26.29 million average estimate based on three analysts. The reported number represents a change of -43.4% year over year.
- Total operating revenues- Total Property: $2.80 billion compared to the $2.76 billion average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
View all Key Company Metrics for American Tower here>>>Shares of American Tower have returned -9.3% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.