American Tower targets 2.9% growth in revenue

American Tower is targeting 2.9 percent increase in revenue to $10.685-$10.865 billion with net income of $1.9-$2.01 billion in 2023.
American Tower has reported revenue of $10.711 billion (+14.5 percent) with net income of $2.705 billion (+10.6 percent) in 2022.

American Tower’s capital expenditures were $666 million during the fourth quarter of 2022 and $1.9 billion in 2022.

“Throughout the year, we saw compelling organic leasing trends, accelerated new site construction and achieved a record year of signed new business within our CoreSite business,” Tom Bartlett, American Tower’s Chief Executive Officer, said.

“In 2023, we expect to continue leveraging our global portfolio of communications infrastructure to benefit from ongoing carrier network investments, including record organic new business growth contributions in the U.S. and Canada,” Tom Bartlett said.