American Tower Corporation reported solid financial results for the first quarter of 2025, with total revenue increasing 2.0% year-over-year to $2.563 billion. Total property revenue saw a modest increase of 0.2% to $2.488 billion, driven by sustained demand across its global portfolio.
The company achieved an organic tenant billings growth of 4.7% and Adjusted EBITDA of $1.744 billion, up 1.9% year-over-year. However, net income attributable to common stockholders decreased significantly by 46.7% to $489 million, or $1.04 per diluted share, primarily due to foreign currency losses.
Attributable AFFO per share, as adjusted, grew by 6.6% to $2.75, reflecting strong operational performance. American Tower also raised the midpoints of its full-year 2025 outlook for property revenue, Adjusted EBITDA, and attributable AFFO per share, citing favorable foreign currency tailwinds and core outperformance. The company also completed the sale of its South Africa Fiber assets for approximately $137.7 million, resulting in a $53.6 million gain.
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