Amercan Tower Q4 FFO Increases

(RTTNews) - American Tower Corp. (AMT) Tuesday reported 28.4 percent increase in fourth quarter Funds from Operations attributable to the shareholders to $715 million from $557.1 million last year. Adjusted FFO attributable to the common stockholders were $688.4 million or $1.59 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.74 per share. Analysts estimates usually exclude special items.

Net income attributable to the company increased to $238.5 million from $229.2 million last year. On a per share basis, earnings were $0.51, p from $0.47 in the prior year.

Revenue for the quarter increased 10.7 percent to $1.704 billion from $1.539 billion a year ago.