American Tower posts Q3 net loss of $780M on $1.2B India sale charge; AFFO up 2.6%

AMERICAN TOWER CORP /MA/

2024-Q3 EPS reported $2.19 revenue$7,579,600,000

Total property revenue fell 1.0% to $2,470M; total revenue flat at $2,522M.
Net loss attributable to common stockholders of $792M ($1.69 diluted loss), including $1.2B loss on sale of India operations.
Adjusted EBITDA down 0.9% to $1,687M; AFFO attributable to common stockholders rose 2.6% to $1,237M.
Completed sale of India operations to Brookfield-backed trust on Sept 12, 2024; results reported as discontinued ops.
CEO cites robust 5G carrier activity in US/Europe and CoreSite record new leasing; on track for 2025 growth.

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