American Tower Q1 revenue up 4% to $2,767M, AFFO up 1.5%, net income down 55% on forex losses

AMERICAN TOWER CORP /MA/

2023-Q1 EPS reported $0.72 revenue$2,767,200,000

Total revenue $2,767M (+4.0% YoY); property revenue $2,715M (+4.4%).
Net income $315M (-55.2%) driven by $84.1M forex loss and $80.0M Mexico fiber sale loss.
Adjusted EBITDA $1,763M (+8.6%); margin 63.7%. AFFO attributable to common $1,185M (+1.5%), per share $2.54.
Organic Tenant Billings Growth 6.4%; CoreSite record new business; 11th consecutive quarter with 1,000+ built sites.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMERICAN TOWER CORP /MA/ reported the quarter ended March 31, 2023 results: revenue $2,767 million, net income $315 million, EPS $0.72 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $2,767 million
Net income: $315 million
EPS: $0.72 per diluted share
Result: reported results

Exact text from the filing

Telephone: (617) 375-7500 AMERICAN TOWER CORPORATION REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS CONSOLIDATED HIGHLIGHTS First Quarter 2023 ● Total revenue increased 4.0% to $2,767 million ● Property revenue increased 4.4% to $2,715 million ● Net income decreased 55.2% to $315 million (1)(2) ● Adjusted EBITDA increased 8.6% to $1,763 million ● Net income

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Source: SEC EDGAR

accession 0001053507-23-000112

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