American Tower Corp. Announces 21% Advance In Q3 Earnings

(RTTNews) - American Tower Corp. (AMT) revealed a profit for its third quarter that advanced from last year.

The company said its bottom line advanced to $558.07 million, or $1.31 per share. This was up from $459.80 million, or $1.15 per share, in last year's third quarter.

Analysts had expected the company to earn $1.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 19.2% to $1.24 billion. This was up from $1.04 billion last year.

American Tower Corp. earnings at a glance:

-Earnings (Q3): $558.07 Mln. vs. $459.80 Mln. last year. -Earnings Growth (Y-o-Y): 21.4% -EPS (Q3): $1.31 vs. $1.15 last year. -EPS Growth (Y-o-Y): 13.9% -Analysts Estimate: $1.23 -Revenue (Q3): $1.24 Bln vs. $1.04 Bln last year. -Revenue Change (Y-o-Y): 19.2%