American Tower Corp. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - American Tower Corp. (AMT) released a profit for second quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $366.8 million, or $0.78 per share. This compares with $761.8 million, or $1.92 per share, last year.

Excluding items, American Tower Corp. reported adjusted earnings of $1.22 billion or $2.60 per share for the period.

Analysts on average had expected the company to earn $1.66 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.5% to $2.63 billion from $2.54 billion last year.

American Tower Corp. earnings at a glance (GAAP) :

-Earnings: $366.8 Mln. vs. $761.8 Mln. last year. -EPS: $0.78 vs. $1.92 last year. -Revenue: $2.63 Bln vs. $2.54 Bln last year.

-Guidance: Full year EPS guidance: $10.46 - $10.65 Full year revenue guidance: $10.14 -$10.29 Bln