American Tower reports Q3 AFFO $2.52, consensus $2.54

Reports Q3 revenue $2.52B, consensus $2.76B. Steven Vondran, American Tower’s (AMT) CEO, stated, “Adjusted for certain non-cash items in the quarter, including the loss taken upon closing our ATC India sale, our third quarter results continue to reflect the unabating demand for our global portfolio of communications infrastructure assets, underpinning the expectations we laid out at the start of the year. Carrier rollouts of 5G coverage are supporting robust activity levels in the U.S. and Europe, while emerging markets, particularly in Africa, are also seeing healthy pipelines of new business driven by network upgrades and coverage expansion.”