American Tower boosts full year 2026 guidance on data center strength despite missing second quarter revenue estimates.

American Tower Corporation reported second quarter total revenue of $2.75 billion, a 4.7% increase year-over-year, while AFFO per share grew 4.2% to $2.71. Citing outperformance in its Data Centers segment, the company raised its full-year 2026 outlook for property revenue, Adjusted EBITDA, and AFFO per share.

Key Highlights

• The company raised its full year 2026 outlook for AFFO per share to a range of $11.00 to $11.17, an increase of $0.09 at the midpoint.
• Second quarter AFFO per share of $2.71 beat consensus estimates of $2.65, driven by what the company called record leasing at its CoreSite data centers and one-time expense benefits.
• Overall Organic Tenant Billings Growth was 1.7%, a material deceleration from prior periods and below analyst expectations.