American Tower Corporation reported strong Q2 2024 results, with total revenue increasing 5% year-over-year to $2.90B. Net income surged 97% to $908.4M, driven by lower depreciation and foreign currency gains. Adjusted EBITDA grew 8% to $1.89B.Property segment revenue rose 5% to $2.85B, with growth across most regions. U.S. & Canada revenue increased 1% to $1.32B, while Asia-Pacific saw 38% growth to $360.9M. The Data Centers segment revenue jumped 13% to $230.8M. However, Africa revenue declined 8% due to currency impacts.The company maintained a solid liquidity position with $9.17B available. It completed a $2.4B senior notes offering and repaid $2.15B in maturing notes. American Tower expects to close the sale of its India business in H2 2024 for up to $2.5B, using proceeds to reduce debt. The company reaffirmed its commitment to its dividend, paying $1.62 per share in July.

American Tower Corporation reported strong Q2 2024 results, with total revenue increasing 5% year-over-year to $2.90B. Net income surged 97% to $908.4M, driven by lower depreciation and foreign currency gains. Adjusted EBITDA grew 8% to $1.89B.Property segment revenue rose 5% to $2.85B, with growth across most regions. U.S. & Canada revenue increased 1% to $1.32B, while Asia-Pacific saw 38% growth to $360.9M. The Data Centers segment revenue jumped 13% to $230.8M. However, Africa revenue declined 8% due to currency impacts.The company maintained a solid liquidity position with $9.17B available. It completed a $2.4B senior notes offering and repaid $2.15B in maturing notes. American Tower expects to close the sale of its India business in H2 2024 for up to $2.5B, using proceeds to reduce debt. The company reaffirmed its commitment to its dividend, paying $1.62 per share in July.