American Tower beat third quarter 2026 estimates driven by 16% data center revenue growth

American Tower reported third quarter 2026 revenue of $2.79 billion, slightly exceeding estimates, and raised its full-year property revenue outlook midpoint by $55 million. The results reflect strong momentum in the CoreSite data center segment, which posted 16.3% cash revenue growth, offsetting a significant slowdown in domestic tower leasing activity.

Key Highlights

• Total property revenue increased 4.5% to $2.73 billion, while Adjusted EBITDA grew a more modest 0.9% to $1.83 billion.
• Consolidated Organic Tenant Billings growth slowed to 1.1%, missing the 5.1% estimate as the tower portfolio faced 5G rollout deceleration and carrier consolidation.
• The Board of Directors authorized a new $2.0 billion share repurchase program following $315 million in buybacks during the quarter.