American Tower Corp. Q4 Profit Increases, beats estimates

(RTTNews) - American Tower Corp. (AMT) reported a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $453.4 million, or $0.99 per share. This compares with $365.1 million, or $0.82 per share, in last year's fourth quarter.

Excluding items, American Tower Corp. reported adjusted earnings of $958.1 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.6% to $2.45 billion from $2.12 billion last year.

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

-Earnings (Q4): $453.4 Mln. vs. $365.1 Mln. last year. -EPS (Q4): $0.99 vs. $0.82 last year. -Analyst Estimate: $1.14 -Revenue (Q4): $2.45 Bln vs. $2.12 Bln last year.