American Tower Q1 Profit Rises - Quick Facts

(RTTNews) - American Tower Corporation (AMT) reported that its first-quarter net income to company increased to $202.50 million or $0.51 per share, from $171.41 million or $0.43 per share, a year ago. AFFO per share was $1.10, for the quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.50 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased to $984.09 million from $802.73 million. Analysts expected revenue of $968.18 million for the quarter.

The company has raised the midpoint of its full year 2014 outlook for total rental and management revenue by $70 million, adjusted EBITDA by $50 million and AFFO by $35 million. The company now expects its 2014 total rental and management revenue between $3.89 billion to $3.97 billion, and AFFO between $1.72 billion to $1.76 billion. Net income is expected to be between $820 million to $850 million.