Filing Flows › American Tower (AMT) › Q2 2026 › vs Q2 2025
American Tower (AMT) Q2 2026 vs Q2 2025 (year over year)
American Tower's revenue rose $122M (+5%) from $2.6B in Q2 2025 to $2.7B in Q2 2026. The biggest changes: Africa & APAC +$79.0M (+23%); U.S. & Canada −$70.9M (-5%); Latin America +$52.2M (+13%). Operating margin 46.2% against 45.6% (+0.6 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 46.2% | 45.6% | +0.6 pts |
| Net margin | 31.6% | 14.0% | +17.6 pts |
| Free cash flow margin | 42.4% | 37.2% | +5.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| U.S. & Canada | $1.3B | $1.4B | −$70.9M | -5% |
| Latin America | $442M | $389M | $52.2M | +13% |
| Africa & APAC | $415M | $336M | $79.0M | +23% |
| Data Centers | $297M | $262M | $35.2M | +13% |
| Europe | $259M | $233M | $26.7M | +11% |
| Revenue | $2.7B | $2.6B | $122M | +5% |
| Operating profit | $1.3B | $1.2B | $71.1M | +6% |
| Costs & expenses | $1.5B | $1.4B | $51.1M | +4% |
| Pre-tax earnings | $1.0B | $512M | $498M | +97% |
| Other expense, net | $260M | $686M | −$426M | -62% |
| SG&A | $234M | $234M | $100K | 0% |
| Other operating costs | $1.2B | $1.2B | $51.0M | +4% |
| Net earnings | $868M | $367M | $501M | +137% |
| Minority interests | $20.0M | $13.7M | $6.3M | +46% |
| Income tax | $122M | $131M | −$9.5M | -7% |
| Depreciation & amortization | $514M | $510M | $4.1M | +0.8% |
| Share-based compensation | $34.2M | $47.3M | −$13.1M | -28% |
| Working capital & other | $70.7M | $357M | −$286M | -80% |
| Operating cash flow | $1.5B | $1.3B | $205M | +16% |
| Free cash flow (OCF − capex) | $1.2B | $977M | $189M | +19% |
| Capital expenditures | $321M | $305M | $16.3M | +5% |
Questions
How much did American Tower's revenue grow year over year in Q2 2026?
American Tower's revenue rose $122M (+5%) from $2.6B in Q2 2025 to $2.7B in Q2 2026.
What drove American Tower's revenue change in Q2 2026?
Africa & APAC +$79.0M (+23%); U.S.