American Tower Q2 revenue up 4.6% to $2.90B; net income jumps 96.8%; raises 2024 outlook

AMERICAN TOWER CORP /MA/

2024-Q2 EPS reported $3.89 revenue$5,734,400,000

Total revenue $2,900M (+4.6% YoY); property revenue $2,853M (+4.6%).
Net income $908M (+96.8%); diluted EPS $1.92 (+88.2%).
AFFO per share $2.79 (+13.4%); adjusted EBITDA $1,890M (+8.1%).
Raised midpoints of key 2024 outlook; positive trends in India, U.S. & Canada, CoreSite.
India VIL-related revenue reserve reversals ~$67M vs $35M prior year; tower asset useful life extension reduces D&A ~$730M annually.

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