American Tower Q2 Profit Jumps - Quick Facts

(RTTNews) - Communication tower sites operator American Tower Corp.'s (AMT) second-quarter net income attributable to company surged to $99.82 million, or $0.25 per share, from $48.21 million, or $0.12 per share, last year. Adjusted funds from operations or AFFO went up 19.5% to $366.2 million, or $0.92 per share, that includes the receipt of a one-time income tax refund in the recent quarter of $4.5 million in one of the company's international markets. Core growth in AFFO was around 18.2%.

On average, 21 analysts polled by Thomson Reuters expected earnings per share of $0.52 for the quarter. Analysts' estimates typically exclude one-time items.

During the quarter, total revenue rose 15.9% year-over-year to $808.8 million, from $697.73 million, and total rental and management revenue increased 15.7% to $789.2 million. Analysts estimated revenues of $814.74 million for the quarter.

Looking ahead, the company stated, " ... we are reaffirming our full year outlook for total rental and management revenue and raising our full year outlook for Adjusted EBITDA by $5 million and AFFO by $10 million."