American Tower delivered a strong second quarter in 2026 as accelerating demand for 5G infrastructure, AI-ready data centers and digital connectivity lifted revenue and prompted the company to raise its full-year outlook.
The telecom tower company reported total revenue of $2.749 billion, up 4.7 percent year on year, while property revenue increased 6.3 percent to $2.688 billion, supported by robust global tower leasing and record leasing activity at its CoreSite data center business.
The company’s global communications infrastructure portfolio continued to benefit from expanding mobile network investments. Organic tenant billings growth reached 1.9 percent, or approximately 4 percent excluding DISH churn, while Adjusted EBITDA increased 3.2 percent to $1.808 billion. Property gross margin rose to $1.980 billion, representing a 73.7 percent margin, highlighting the strength of its recurring tower leasing business.
American Tower said the long-term outlook for 5G deployment and AI-driven infrastructure remains highly favorable. Management highlighted that growing mobile data consumption, cloud adoption and rapidly expanding AI applications are driving sustained demand for communications towers, edge infrastructure and digital connectivity.
American Tower said leasing demand from major wireless operators remained strong during the second quarter of 2026, with network investments by leading carriers continuing to support tower growth despite the lingering impact of DISH churn. The company reported tenant billings growth of 1.9 percent, or about 4 percent excluding DISH churn.
American Tower highlighted that U.S. carrier activity remains healthy as operators continue expanding 5G coverage and capacity, contributing to improved 2026 guidance.
AT&T remained one of the strongest contributors to U.S. wireless infrastructure demand after adding 432,000 postpaid phone subscribers in the second quarter of 2026, ahead of market expectations. The operator also completed its acquisition of approximately 30 MHz of nationwide 3.45 GHz mid-band spectrum and around 20 MHz of nationwide 600 MHz low-band spectrum from EchoStar for about $23 billion, strengthening its 5G network expansion and supporting continued tower leasing demand.
Verizon continued investing in network expansion after adding 184,000 postpaid phone subscribers during the quarter. The operator also gained 155,000 fiber broadband subscribers and 193,000 fixed wireless access subscribers, while raising its full-year earnings guidance. American Tower indicated that consistent investment by large U.S. operators such as Verizon continues to underpin leasing activity across its domestic tower portfolio.
T-Mobile US maintained solid network investment momentum despite expecting a temporary slowdown in subscriber additions. The company added 277,000 postpaid accounts in the second quarter, increased adjusted free cash flow guidance to $18.4 billion-$18.8 billion, lifted average revenue per postpaid account by 2 percent year-over-year to $152.91, and expanded its fixed wireless business to 6.8 million subscribers.
Record leasing at CoreSite reflected increasing requirements for AI computing capacity and high-performance cloud infrastructure, with data center revenue increasing 13.4 percent year on year and cash revenue growing 12.3 percent, marking the fifth consecutive quarter of double-digit expansion.
The company continues to benefit from one of the world’s largest communications infrastructure portfolios. As of the end of 2025, American Tower owned approximately 149,686 communications sites, including 42,224 sites in the United States and Canada, 32,524 in Europe, 47,081 in Latin America, and 27,857 across Asia-Pacific and Africa.
American Tower also emphasized the growing role of AI in reshaping digital infrastructure demand. The company believes AI workloads, cloud services and evolving network architectures are creating a multi-year investment cycle for towers, interconnection facilities and hyperscale data centers. These trends complement increasing demand for fiber-rich connectivity within CoreSite’s campuses, where customers require low-latency, high-capacity connections to support AI applications and cloud services.
Reflecting this momentum, American Tower raised its full-year 2026 outlook. The company now expects property revenue of approximately $10.77 billion, Adjusted EBITDA of about $7.275 billion, and AFFO per share of approximately $11.08, supported by continued global leasing activity, AI-driven data center demand and resilient investment in 5G communications infrastructure.
SHAFANA FAZAL
