Strong Start to Fiscal Year 2025
American Tower exceeded initial expectations across property revenue, adjusted EBITDA, and attributable AFFO per share for the quarter.
U.S. Services Business Growth
The U.S. services business delivered its highest quarter of revenue and gross profit since 2021, with applications rising nearly 30% compared to Q4 2024 and up roughly 60% versus Q1 2024.
CoreSite Performance
CoreSite posted high-single-digit revenue growth, supported by strong leasing and continued pricing favorability.
Successful Capital Market Activities
American Tower issued $1 billion in senior unsecured notes at a weighted average cost of just over 5%, reducing net leverage to 5 times.
Positive International Growth
International property revenue grew 8% excluding FX impacts, with strong performance in emerging markets like Nigeria and Brazil.