American Tower revenue up 23% to $1.4 bn

Cellular towers in China
American Tower Corporation today said its revenue reached $1,442 million (+22.8 percent) in the second quarter ended June 30, 2016.

American Tower said its capital expenditures were $169 million during the second quarter of 2016.

American Tower spent $1.2 billion primarily to acquire 42,975 sites internationally including the acquisition of a 51 percent stake in Viom Networks for Rs 7600 crore. The company also assumed approximately INR 52 billion of debt at closing.

American Tower CEO Jim Taiclet said: “Organic Tenant Billings grew by approximately 8 percent in the quarter and were further enhanced by an approximately 15 percent contribution in New Site Tenant Billings associated primarily with our Viom transaction in India and sites acquired from Bharti Airtel in Nigeria and TIM in Brazil.”

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