American Tower Corp. Q3 adjusted earnings Beat Estimates

(RTTNews) - American Tower Corp. (AMT) released a profit for its third quarter that rose from the same period last year.

The company's profit came in at $723.0M, or $1.58 per share. This compares with $464.4M, or $1.04 per share, in last year's third quarter.

Excluding items, American Tower Corp. reported adjusted earnings of $1.14 billion or $2.49 per share for the period.

Analysts had expected the company to earn $1.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.9% to $2.45 billion from $2.01 billion last year.

American Tower Corp. earnings at a glance:

-Earnings (Q3): $1.14 Bln. vs. $1.00 Bln. last year. -EPS (Q3): $2.49 vs. $2.23 last year. -Analysts Estimate: $1.20 -Revenue (Q3): $2.45 Bln vs. $2.01 Bln last year.

-Guidance: Full year revenue guidance: $9,035 - $9,105 Mln