American Tower (NYSE:AMT) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
American Tower announced earnings per share of $0.93 on revenue of $1.99B. Analysts polled by anticipated EPS of $1.07 on revenue of $2B. That with comparison to EPS of $0.89 on revenue of $1.81B in the same period a year before. American Tower had reported EPS of $1.26 on revenue of $1.91B in the previous quarter. Analysts are expecting EPS of $1.08 and revenue of $1.99B in the upcoming quarter.
American Tower shares are up 5% from the beginning of the year , still down 6.49% from its 52 week high of $260.43 set on April 9. They are outperforming the S&P 500 which is down 11.75% year to date.
American Tower follows other major Services sector earnings this month
American Tower's report follows an earnings beat by Verizon on Friday, who reported EPS of $1.26 on revenue of $31.61B, compared to forecasts EPS of $1.22 on revenue of $32.38B.
AT&T had missed expectations on April 22 with first quarter EPS of $0.84 on revenue of $42.78B, compared to forecast for EPS of $0.85 on revenue of $44.2B.
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