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Compared to Estimates, American Tower (AMT) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, American Tower (AMT - Free Report) reported revenue of $2.77 billion, up 3.6% over the same period last year. EPS came in at $2.46, compared to $1.95 in the year-ago quarter.
The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $2.73 billion. With the consensus EPS estimate being $2.36, the EPS surprise was +4.24%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 42702 compared to the 42774.5 average estimate based on four analysts.
International - Ending Balance: 181317 compared to the 182297 average estimate based on four analysts.
Total - Ending Balance: 224019 versus 224993.3 estimated by four analysts on average.
Organic Tenant Billings Growth - U.S. & Canada: 5.1% compared to the 5.13% average estimate based on three analysts.
Geographic Revenues- U.S. & Canada: $1.30 billion versus $1.28 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
Geographic Revenues- Total International: $1.22 billion versus the five-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of +2.8%.
Geographic Revenues- Africa: $321 million versus $324.89 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.2% change.
Geographic Revenues- Europe: $198 million compared to the $193.32 million average estimate based on three analysts.
Geographic Revenues- Asia-Pacific: $262 million versus the three-analyst average estimate of $260.75 million. The reported number represents a year-over-year change of -12.1%.
Total operating revenues- Services: $43 million versus $57.29 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -28.1% change.
Total operating revenues- Total Property: $2.73 billion compared to the $2.67 billion average estimate based on four analysts. The reported number represents a change of +4.4% year over year.
Total operating revenues- Data Centers: $205 million versus $203.61 million estimated by four analysts on average.
Shares of American Tower have returned -0.9% over the past month versus the Zacks S&P 500 composite's +5.6% 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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Compared to Estimates, American Tower (AMT) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, American Tower (AMT - Free Report) reported revenue of $2.77 billion, up 3.6% over the same period last year. EPS came in at $2.46, compared to $1.95 in the year-ago quarter.
The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $2.73 billion. With the consensus EPS estimate being $2.36, the EPS surprise was +4.24%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 42702 compared to the 42774.5 average estimate based on four analysts.
- International - Ending Balance: 181317 compared to the 182297 average estimate based on four analysts.
- Total - Ending Balance: 224019 versus 224993.3 estimated by four analysts on average.
- Organic Tenant Billings Growth - U.S. & Canada: 5.1% compared to the 5.13% average estimate based on three analysts.
- Geographic Revenues- U.S. & Canada: $1.30 billion versus $1.28 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
- Geographic Revenues- Total International: $1.22 billion versus the five-analyst average estimate of $1.18 billion. The reported number represents a year-over-year change of +2.8%.
- Geographic Revenues- Africa: $321 million versus $324.89 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.2% change.
- Geographic Revenues- Europe: $198 million compared to the $193.32 million average estimate based on three analysts.
- Geographic Revenues- Asia-Pacific: $262 million versus the three-analyst average estimate of $260.75 million. The reported number represents a year-over-year change of -12.1%.
- Total operating revenues- Services: $43 million versus $57.29 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -28.1% change.
- Total operating revenues- Total Property: $2.73 billion compared to the $2.67 billion average estimate based on four analysts. The reported number represents a change of +4.4% year over year.
- Total operating revenues- Data Centers: $205 million versus $203.61 million estimated by four analysts on average.
View all Key Company Metrics for American Tower here>>>Shares of American Tower have returned -0.9% over the past month versus the Zacks S&P 500 composite's +5.6% 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.