Filing Flows › American Tower (AMT) › Q2 2026 › vs Q1 2026
American Tower (AMT) Q2 2026 vs Q1 2026 (quarter over quarter)
American Tower's revenue rose $11.6M (+0.4%) from $2.7B in Q1 2026 to $2.7B in Q2 2026. The biggest changes: Latin America −$38.5M (-8%); Africa & APAC +$36.7M (+10%); Data Centers +$8.2M (+3%). Operating margin 46.2% against 45.3% (+0.9 pts).
American Tower, Q2 2026: revenue $2.7B (+5% year over year), operating margin 46.2%, net earnings $868M, operating cash flow $1.5B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 46.2% | 45.3% | +0.9 pts |
| Net margin | 31.6% | 31.4% | +0.2 pts |
| Free cash flow margin | 42.4% | 34.7% | +7.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| U.S. & Canada | $1.3B | $1.3B | $6.5M | +0.5% |
| Latin America | $442M | $480M | −$38.5M | -8% |
| Africa & APAC | $415M | $379M | $36.7M | +10% |
| Data Centers | $297M | $289M | $8.2M | +3% |
| Europe | $259M | $261M | −$1.3M | -0.5% |
| Revenue | $2.7B | $2.7B | $11.6M | +0.4% |
| Operating profit | $1.3B | $1.2B | $29.6M | +2% |
| Costs & expenses | $1.5B | $1.5B | −$18.0M | -1% |
| Pre-tax earnings | $1.0B | $1.0B | −$8.8M | -0.9% |
| Other expense, net | $260M | $221M | $38.4M | +17% |
| SG&A | $234M | $257M | −$23.6M | -9% |
| Other operating costs | $1.2B | $1.2B | $5.6M | +0.5% |
| Net earnings | $868M | $860M | $8.0M | +0.9% |
| Minority interests | $20.0M | $19.0M | $1.0M | +5% |
| Income tax | $122M | $140M | −$17.8M | -13% |
| Depreciation & amortization | $514M | $518M | −$3.8M | -0.7% |
| Share-based compensation | $34.2M | $58.4M | −$24.2M | -41% |
| Working capital & other | $70.7M | −$35.5M | $106M | — |
| Operating cash flow | $1.5B | $1.4B | $86.2M | +6% |
| Free cash flow (OCF − capex) | $1.2B | $951M | $215M | +23% |
| Capital expenditures | $321M | $450M | −$129M | -29% |
Questions
How much did American Tower's revenue grow quarter over quarter in Q2 2026?
American Tower's revenue rose $11.6M (+0.4%) from $2.7B in Q1 2026 to $2.7B in Q2 2026.
What drove American Tower's revenue change in Q2 2026?
Latin America −$38.5M (-8%); Africa & APAC +$36.7M (+10%); Data Centers +$8.2M (+3%).