October 27, 2016 — American Tower reported total revenue increased 22.4 percent to $1,515 million on a global basis in the third quarter of this year. Property revenue was up 23.5 percent to $1,498 million and net income increased 169.8 percent to $264 million.
Organic tenant billings grew 6 percent in the United States, compared with the average of 14 percent internationally.
“In response to rapid growth in mobile data usage, our tenants continue to utilize a combination of incremental spectrum assets, advancing technology and our diverse portfolio of real estate to expand their mobile networks and deliver top quality service to their subscribers, Jim Taiclet, American Tower’s CEO, said.
“Our global asset base of nearly 144,000 towers and over 700 small cell systems is uniquely positioned to benefit from these continuing investments, and as a result, we were able to extend our long track record of generating double digit growth in property revenue, Adjusted EBITDA and Consolidated AFFO per Share in the third quarter,” he added.
During the third quarter of 2016, the towerco spent $93.4 million to acquire 351 communications sites primarily in international markets. American projects that it will end the year with 150,000 sites world wide.