American Tower net income surges 76% on strong property revenue growth

American Tower Corporation (NYSE:AMT) reported robust financial results for the first quarter of 2026 on Tuesday, April 28, headlined by a massive surge in net income and continued expansion of its global property portfolio.

The Boston-based real estate investment trust posted total revenue of $2.738 billion, representing a 6.8% increase compared to the first quarter of 2025.

The company's core property revenue, which accounts for the vast majority of its top-line performance, grew 7.3% to $2.670 billion.

This growth reflects the ongoing global demand for 5G connectivity and increased leasing activity across its extensive network of towers and data centers.

A primary highlight of the report was the sharp increase in profitability.

Net income attributable to AMT common stockholders surged 75.9% to $860 million, while total net income rose 76.2% to $879 million.

These significant gains were supported by operational efficiencies and a favorable comparison to the prior-year period.

Adjusted EBITDA, a key metric for evaluating the company’s operating performance, increased 5.2% to $1.835 billion.

Adjusted Funds From Operations (AFFO), a standard performance measure for the REIT industry, rose 2.6% to $1.324 billion for the quarter.