American Towers posted a solid first quarter as revenue increased 10 percent year-over-year to $352.5 million. Net income for the quarter totaled $22.2 million, or 5 cents per share, compared to a loss of $1.9 million a year ago. Analysts had expected a slightly more robust first quarter from the company: earnings of 6 cents per share on $344 million in revenue. American Tower said growth in wireless tower sales in Latin America and the U.S. fueled its financial gains. The company predicted total yearly income for 2007 to be between $64 million and $79 million.
For more on AT's Q1:
- see this AP article