Filing Flows › American Tower (AMT) › Q1 2025
American Tower (AMT) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
American Tower (AMT) reported revenue of $2.6B for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.6% from the quarter before. Operating margin was 48.9%, net earnings $489M (19.1% of revenue).
American Tower, Q1 2025: revenue $2.6B (+2% year over year), operating margin 48.9%, net earnings $489M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +0.6% | +2% |
| Operating profit | $1.3B | +16% | +10% |
| Net earnings | $489M | -60% | -47% |
| Operating cash flow | $1.3B | +8% | +0.9% |
| Free cash flow | $964M | +28% | +9% |
What changed
Revenue was $2.6B in Q1 2025, up 2% year over year and up 1% from the previous quarter. U.S. & Canada was the largest line at 54% of revenue. Africa & APAC added $0.04B year over year (up 12%), 73% of the total change. Latin America declined 10%.
Operating profit was $1.3B, a 48.9% margin (up 3.5 points year over year). Of the extra revenue versus a year earlier, 225% reached operating profit, above the 45% margin then. Total costs fell 5% while revenue rose 2%. Net earnings were $0.49B, down 47% year over year. The effective tax rate was 19.3%.
Operating cash flow was $1.3B (up 1% year over year), 260% of net earnings. Non-cash charges added back $0.49B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.25B. Capital expenditures of $0.33B left free cash flow of $1.0B.
Questions
What was American Tower's revenue in the first quarter 2025?
American Tower (AMT) reported revenue of $2.6B for the first quarter 2025 (Q1 2025), +2% from a year earlier and +0.6% from the quarter before.
Was American Tower profitable in the first quarter 2025?
Operating profit was $1.3B (48.9% of revenue) and net earnings $489M.
Source: American Tower 10-Q on SEC EDGAR.