American Tower Corporation Reports Strong Q3 2025 Results
American Tower Corporation reported strong Q3 2025 results, with total revenue increasing by 7.7% to $2,717 million and net income rising by 216.9% to $913 million. The growth is attributed to high global data demand and robust leasing activity. Adjusted EBITDA grew by 7.6% to $1,816 million, and AFFO attributable to common stockholders increased by 5.3% to $1,303 million. The company maintains a strong balance sheet with a net leverage ratio of 4.9x and total liquidity of approximately $10.7 billion, raising its full-year 2025 outlook for property revenue and AFFO.
American Tower Corporation, a leading global real estate investment trust (REIT), specializes in owning, operating, and developing multitenant communications real estate, including a vast portfolio of over 149,000 communications sites and interconnected data center facilities.
In its third-quarter 2025 earnings report, American Tower Corporation announced a robust financial performance with significant increases in revenue, net income, and adjusted funds from operations (AFFO). The company attributes its growth to strong global data demand and robust leasing activity across its U.S. and international towers, as well as its data center business.
Key financial highlights for the quarter include a 7.7% increase in total revenue to $2,717 million and a remarkable 216.9% rise in net income to $913 million, primarily due to foreign currency losses in the previous year. Adjusted EBITDA grew by 7.6% to $1,816 million, while AFFO attributable to common stockholders increased by 5.3% to $1,303 million. The company also reported a 10.4% rise in AFFO per share, as adjusted.
Strategic initiatives such as maximizing organic growth, expanding margins, and prudent capital allocation continue to be the focus for American Tower. The company maintains a strong balance sheet and liquidity position, with a net leverage ratio of 4.9x and total liquidity of approximately $10.7 billion.
Looking ahead, American Tower remains optimistic about its growth prospects into 2026 and beyond, driven by its strategic focus and the ongoing demand for digital infrastructure. The company has raised its full-year 2025 outlook for property revenue, adjusted EBITDA, and AFFO, reflecting positive impacts from foreign currency exchange rate fluctuations.
