Filing Flows › American Tower (AMT) › Q2 2025
American Tower (AMT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
American Tower (AMT) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +3% from the quarter before. Operating margin was 45.6%, net earnings $367M (14.0% of revenue).
American Tower, Q2 2025: revenue $2.6B (+3% year over year), operating margin 45.6%, net earnings $367M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +3% | +3% |
| Operating profit | $1.2B | -4% | +4% |
| Net earnings | $367M | -25% | -59% |
| Operating cash flow | $1.3B | -1% | -4% |
| Free cash flow | $977M | +1% | -4% |
What changed
Revenue was $2.6B in Q2 2025, up 3% year over year and up 3% from the previous quarter. U.S. & Canada was the largest line at 54% of revenue. U.S. & Canada added $0.04B year over year (up 3%), 53% of the total change. Latin America declined 13%.
Operating profit was $1.2B, a 45.6% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 50% reached operating profit, above the 45% margin then. Total costs grew 3% against revenue growth of 3%. Net earnings were $0.37B, down 59% year over year. The effective tax rate was 25.7%.
Operating cash flow was $1.3B (down 4% year over year), 337% of net income including minority interests. Non-cash charges added back $0.51B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.34B. Capital expenditures of $0.30B left free cash flow of $1.0B.
Questions
What was American Tower's revenue in the second quarter 2025?
American Tower (AMT) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +3% from the quarter before.
Was American Tower profitable in the second quarter 2025?
Operating profit was $1.2B (45.6% of revenue) and net earnings $367M.
Source: American Tower 10-Q on SEC EDGAR.