American Tower reports Q3 consolidated AFFO $1.85, consensus $1.82
Reports Q3 revenue $1.78B, consensus $1.76B. CEO Jim Taiclet stated, "In the third quarter, our U.S. property segment delivered strong Organic Tenant Billings Growth of 7.4%, reflecting ongoing investments in 4G technology by our tenants to meet ever-increasing data and video demand. Our International property segment also experienced strong demand for tower space, especially in Latin America. Normalizing for Indian Carrier Consolidation Churn, International Organic Tenant Billings Growth was 8%. Subsequent to the end of the quarter, we reached a comprehensive agreement with the Tata Group that we believe preserves our ability to achieve our long-term return on investment objectives in India. We expect that this agreement, along with the acquisition of approximately 20,000 Vodafone and Idea towers earlier this year, will position American Tower to benefit from the anticipated recovery in the Indian mobile market."