American Tower Corporation reported solid financial results for Q4 and full-year 2024, with total revenue increasing 3.7% to $2.55 billion in the quarter and 1.1% to $10.13 billion for the year. Property revenue saw modest growth, rising 2.0% in Q4 and 0.7% for the full year.

Net income surged dramatically, up 9,151.9% in Q4 to $1.23 billion and 66.8% for the full year to $2.28 billion, driven by operational efficiency and portfolio management. Adjusted EBITDA increased 5.1% in Q4 to $1.69 billion and 1.9% for the year to $6.81 billion. AFFO attributable to common stockholders grew 10.7% in Q4 and 6.0% for the full year.

CEO Steven Vondran highlighted strong leasing trends, especially from mid-band deployments in the U.S. and Europe, 4G densification, early 5G upgrades in emerging markets, and exceptional performance at CoreSite. Despite macroeconomic challenges, American Tower remains well-positioned for sustained growth through disciplined capital allocation and portfolio optimization.

source: American Tower Corporation, February 25, 2025.