American Tower Outperforms In Q4: Eyes 5G And AI-Driven Future

American Tower Corp (NYSE: AMT) reported fourth-quarter fiscal 2023 revenue growth of 3.0% year-on-year to $2.79 billion, beating the consensus estimate of $2.74 billion.

Property revenue increased 4.6% Y/Y to $2.77 billion. Tenant Billings grew by 7.1%, and Organic Tenant Billings increased by 6.1%.

Adjusted EBITDA increased 3.2% Y/Y to $1.76 billion. AFFO per share attributable was $2.29, down by 2.1% Y/Y and against the