Feb 24 (Reuters) – American Tower on Tuesday posted fourth-quarter revenue above Wall Street estimates, lifted by stronger leasing activity from telecom carriers and continued momentum in data-center demand. U.S. wireless operators have been steadily expanding network capacity and coverage, with rising 5G rollouts, growing AI-related workloads and robust data‑center demand underscoring the need for […]
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American Tower posts upbeat revenue on strong leasing activity amid 5G, data-center growth
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Feb 24 (Reuters) – American Tower on Tuesday posted fourth-quarter revenue above Wall Street estimates, lifted by stronger leasing activity from telecom carriers and continued momentum in data-center demand.
U.S. wireless operators have been steadily expanding network capacity and coverage, with rising 5G rollouts, growing AI-related workloads and robust data‑center demand underscoring the need for additional tower space and related infrastructure.
“Leasing demand across our global tower portfolio and data center business remains robust, underpinned by sustained growth in mobile data consumption, continued 5G deployment, and increasing hybrid-cloud and AI-related workloads,” said CEO Steven Vondran.
The company posted revenue of $2.74 billion, compared to analysts’ estimates of $2.69 billion, according to data compiled by LSEG.
American Tower, which operates and develops wireless and broadcast communications infrastructure, leases space to wireless service providers, along with radio and television broadcasters. Its major customers include telecom giants AT&T, Verizon, and T-Mobile.
Revenue from its property segment, which includes the core site-leasing business, rose 7.6% to $2.67 billion in the quarter.
(Reporting by Kritika Lamba in Bengaluru; Editing by Vijay Kishore)