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How American Tower (AMT) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/28/2026
American Tower — American Tower owns and operates wireless and broadcast communication infrastructure, including radio towers and transmission sites.
More about the company
The company is headquartered in Boston, Massachusetts.
Key growth driver: Africa & APAC — the fastest-growing revenue line: $415, +23% y/y. · by the Q2 2026 report
How does American Tower make money?
American Tower brought in $2.75 billion of revenue in Q2 2026, up 5% year over year. The largest source was U.S. & Canada: $1.27 billion, or 46% of the total, followed by Latin America ($442M, 16%) and Africa & APAC ($415M, 15%); other lines add the remaining 22%. Net income for the quarter was $868 million, up 136% year over year.
Revenue by source, Q2 2026
- U.S. & Canada$1.27B · 46% · −3%
- Latin America$442M · 16% · +13%
- Africa & APAC$415M · 15% · +23%
- Data Centers$297M · 11% · +13%
- Europe$259M · 9% · +11%
- Services$61.3M · 2% · −38%
Shares of $2.75B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is AMT’s next earnings date?
Tuesday, October 27, 2026confirmed · before market open
American Tower (AMT) is scheduled to report results for the quarter ending Sep 2026 on Oct 27, 2026. Consensus EPS forecast: $2.78 (4 analysts), vs $2.78 in the same quarter last year.
What time does AMT report? Usually before market open: the last 4 results releases reached the SEC at 7:05 am, 7:04 am, 7:05 am, 7:04 am ET.
Last report: Jul 28, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$2,749
+5%
Gross profit
$2,008
Operating income
$1,269
+6%
Net income
$868
+136%
EPS diluted $1.86 vs $0.78
Verdict: a solid quarter operationally—segment revenue up 5% led by Africa & APAC, Latin America and Data Centers—but the headline net income jump is driven largely by a swing from a $484M FX loss to a $42M FX gain, not underlying business strength, while U.S. & Canada property revenue slipped on DISH-related churn.
OCF $2,887M (6mo) · buyback $19.2M in Q2 (1,164,378 sh YTD for $202.9M) · dividend $1.79/share declared · FY2026 capex guide $1,805-1,915M.
Source and notation
* marks non-cash / ≈ estimated. Source: American Tower Corporation press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
AMT earnings history: past report dates
| Jul 28, 2026 Tue | 7:05 ambefore market open | Jun 30, 2026 | $211M−13% y/y | $1.86+138% y/y |
| Apr 28, 2026 Tue | 7:04 ambefore market open | Mar 31, 2026 | $216M−4% y/y | $1.84+77% y/y |
| Feb 24, 2026 Tue | 7:05 ambefore market open | Dec 31, 2025 | ≈$220M+2% y/y | ≈$1.76−33% y/y |
| Oct 28, 2025 Tue | 7:04 ambefore market open | Sep 30, 2025 | $246M+29% y/y | $1.82 |
| Jul 29, 2025 Tue | 7:03 ambefore market open | Jun 30, 2025 | $244M+24% y/y | $0.78−59% y/y |
| Apr 29, 2025 Tue | 7:03 ambefore market open | Mar 31, 2025 | $226M+31% y/y | $1.04−47% y/y |
| Feb 25, 2025 Tue | 7:02 ambefore market open | Dec 31, 2024 | ≈$215M+27% y/y | ≈$2.62 |
| Oct 29, 2024 Tue | 7:05 ambefore market open | Sep 30, 2024 | $190M+3% y/y | −$1.69 |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
American Tower: 5-year financials
| 2025 | 936 | 4,846 | 2,530 | 3,784 | 3,181 |
| 2024 | 775 | 4,517 | 2,255 | 3,701 | 3,027 |
| 2023 | 747 | 3,126 | 1,483 | 2,924 | 3,007 |
| 2022 | 841 | 2,739 | 1,766 | 1,823 | 2,715 |
| 2021 | 717 | 3,132 | 2,568 | 3,443 | 2,271 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2026Per the 2025 10-K, American Tower has a single class of common stock; it paid $6.72 per share ($3.1B) in 2025. sec.gov ↗
- Dec 2025Diluted shares +5.1% over 2020–2025; SBC of $0.17B = 1.6% of $10.6B revenue. data.sec.gov ↗
- Dec 2025Per-share dividend: $6.31 (2023) → $6.56 (2024) → $6.72 (2025). data.sec.gov ↗
Scoring: 2.0, no deductions: single share class, dilution +5% over 5 years (<10%), SBC 1.6% of revenue, REIT dividends rising; no shareholder suits or SEC cases in 10 years
- Share classes
- Single class of common stock (2025 10-K cover).
- Dilution
- Diluted shares +5.1% over 2020–2025, SBC 1.6% of revenue — below thresholds.
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- REIT payouts are rising: $6.31 → $6.56 → $6.72 per share over 2023–2025; $3.3B announced for 2026.
- Lawsuits & regulators
- The 2025 10-K lists no shareholder suits or SEC cases; the last investor suit (options backdating, $14M) dates to 2008 — below the threshold and over 10 years old.
- Related parties
- Related-party transaction approval policy in place; no material transactions disclosed in the 2026 proxy.
How the score works · checked as of Sep 2026
American Tower (AMT) earnings: FAQ
How does American Tower make money?
American Tower brought in $2.75 billion of revenue in Q2 2026, up 5% year over year. The largest source was U.S. & Canada: $1.27 billion, or 46% of the total, followed by Latin America ($442M, 16%) and Africa & APAC ($415M, 15%); other lines add the remaining 22%. Net income for the quarter was $868 million, up 136% year over year.
When is AMT's next earnings date?
American Tower (AMT) is scheduled to report on Oct 27, 2026, before market open.
What time does AMT report earnings?
American Tower is scheduled to report before market open on Oct 27, 2026. Its last results releases were filed before market open, most recently at 7:05 am ET on Jul 28, 2026.
When did AMT last report earnings?
American Tower reported Q2 2026 results on Jul 28, 2026.
What is the EPS estimate for AMT's next earnings?
The consensus EPS forecast is $2.78 (4 analysts), vs $2.78 in the same quarter last year.
Where can I find American Tower's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to AMT's filings; this page breaks the latest report down in a Sankey chart.
What was AMT's net income in Q2 2026?
American Tower reported net income of $868M for Q2 2026 (+136% year over year), under US GAAP.
Does American Tower pay dividends?
Yes. In 2025, American Tower paid $3,181M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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