American Tower: Q2 Earnings Snapshot
By AP News
Published - Jul 30, 2024, 08:48 AM ET
Last Updated - Jul 30, 2024, 08:48 AM EDT
BOSTON (AP) — BOSTON (AP) — American Tower Corp. (AMT) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Boston, said it had funds from operations of $1.31 billion, or $2.79 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.53 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
