Q3 25 EPS
$1.82
BEAT +10.06%
Est. $1.65
Q3 25 Revenue
$2.72B
BEAT +2.31%
Est. $2.66B
vs S&P Since Q3 25
-3.9%
TRAILING MARKET
AMT +1.0% vs S&P +4.9%
Market Reaction
Did AMT Beat Earnings? Q3 2025 Results
American Tower posted a convincing third-quarter 2025 beat, with earnings per diluted share of $1.82 clearing the $1.65 consensus estimate by 10.06% and revenue of $2.72 billion topping expectations by 2.31% on 7.7% year-over-year growth. The results… Read more American Tower posted a convincing third-quarter 2025 beat, with earnings per diluted share of $1.82 clearing the $1.65 consensus estimate by 10.06% and revenue of $2.72 billion topping expectations by 2.31% on 7.7% year-over-year growth. The results were anchored by broad-based segment strength, most notably a 14.1% surge in Data Centers revenue to $267.00 million, where record retail leasing activity and rising AI-driven demand helped lift overall Adjusted EBITDA to $1.82 billion at a 66.8% margin. Net income swung sharply positive to $912.60 million, aided by the absence of the $1.20 billion loss on the India operations sale that had weighed on the prior-year period. Management responded to the momentum by raising full-year 2025 guidance, lifting AFFO per share guidance to a range of $10.60 to $10.72, with foreign currency tailwinds cited as the primary driver of the increase. With peer tower operators similarly reporting healthy demand for wireless infrastructure, American Tower's diversified global footprint and data center expansion appear well-positioned heading into year-end.
Key Takeaways
- • Rapid growth in global data demand driving tower leasing activity
- • Robust carrier investment in network coverage and capacity across U.S. and international markets
- • Strong hybrid-cloud demand, favorable pricing, and rising AI-related workloads in Data Centers segment
- • Record quarter of signed retail new leasing in Data Centers
- • Positive foreign currency exchange rate fluctuations compared to prior year
- • Organic Tenant Billings Growth of 5.0%
- • Decrease in non-cash straight-line revenue recognition creating headwind to reported revenue growth
AMT YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
AMT Revenue by Segment
With YoY comparisons, source: SEC Filings
AMT Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered another strong quarter, resulting in mid-to-high single-digit growth in revenue and Adjusted EBITDA, and double-digit growth in AFFO per Share, as adjusted. Our unmatched portfolio of digital infrastructure continues to benefit from rapid growth in global data demand. Leasing activity across our U.S. and international towers remains robust as carriers invest in network coverage and capacity, and in our data center business, strong hybrid-cloud demand, favorable pricing, and rising AI-related workloads drove a strong quarter, including a record quarter of signed retail new leasing.”
— Steven Vondran, Q3 2025 Earnings Press Release
AMT Earnings Trends
AMT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMT EPS Trend
Earnings per share: estimate vs actual
AMT Revenue Trend
Quarterly revenue: estimate vs actual
AMT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.84 | — | $2.74B | +3.27% |
| Q4 25 BEAT FY | $1.47 | $1.75 | +19.06% | $2.74B | +1.93% |
| FY Full Year | $5.11 | $5.40 | +5.61% | $10.64B | +0.49% |
| Q3 25 BEAT | $1.65 | $1.82 | +10.06% | $2.72B | +2.31% |
| Q2 25 MISS | $1.66 | $0.78 | -53.14% | $2.63B | +1.26% |
| Q1 25 MISS | $1.57 | $1.04 | -33.55% | $2.56B | +0.75% |