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Jun 30
American Tower Q2 2025 Earnings Report
American Tower reported a decline in net income despite modest revenue growth and stable operational performance in Q2 2025.
Key Takeaways
American Tower saw revenue growth in Q2 2025 driven by strong services performance and demand at CoreSite, though net income fell sharply due to foreign currency losses.
Total revenue rose 3.2% year-over-year to $2.63 billion.
Net income fell 58.1% to $381 million due to foreign currency losses.
Adjusted EBITDA increased 1.8% to $1.75 billion.
CoreSite delivered double-digit growth amid demand for AI-ready interconnection.
American Tower
American Tower
American Tower Revenue by Segment
American Tower Revenue by Geographic Location
Revenue by Segment
U.S. & Canada Prop. Revenue
CapyFin.comLatin America Prop. Revenue
CapyFin.comAfrica & APAC Prop. Revenue
CapyFin.comEurope Prop. Revenue
CapyFin.comServices Revenue
CapyFin.comData Centers Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The company raised its full-year 2025 outlook for revenue and adjusted EBITDA, while lowering net income guidance due to foreign currency impacts.
Positive Outlook
- Raised midpoint outlook for total property revenue to $10.21 billion.
- Raised Adjusted EBITDA outlook to $7.04 billion.
- Increased AFFO per share guidance to $10.65.
- CoreSite data center segment continues to outperform.
- Improved currency exchange assumptions support revised guidance.
Challenges Ahead
- Net income guidance lowered by $400 million due to unrealized FX losses.
- Foreign currency volatility continues to impact earnings.
- U.S. property segment faces slight revenue decline.
- AFFO growth remains modest despite operational strength.
- High leverage ratio of 5.1x poses financial flexibility challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income