American Tower (AMT) Q2 FY2026 earnings: revenue $2.7 billion, up 4.7% on the year

American Tower Corp. (AMT) reported revenue of $2.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.7% on the same quarter a year earlier. Net income was $868 million, up 136.5% on the year, and diluted earnings per share $1.86. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue

$2.7 billion

+4.7% on the year · +0.4% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

46.2%

45.6% a year earlier

Q3 FY2024Q2 FY2026

Net income

$868 million

+136.5% on the year · +0.9% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$1.86

+138.5% on the year · +1.1% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 11 raised, 1 lowered, 3 kept.

Property revenue rose 6.3%: Total revenue rose 4.7% to $2,749 million and Adjusted EBITDA rose 3.2% to $1,808 million.
Revenue growth varied by region: U.S. & Canada revenue fell 2.5%, while Latin America rose 13.4%, Africa & APAC 23.5%, Europe 11.5% and Data Centers 13.4%. Services revenue fell 38.4% to $61 million.
Tenant billings grew 2.4%: Total tenant billings grew 2.4%, or $46 million, and organic growth was 1.7%, or $34 million. Both measures are adjusted for foreign currency.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	2,749	2,738	2,627	+0.4%	+4.7%
Cost of revenue	741	703	689	+5.4%	+7.6%
Gross profit	2,008	2,034	1,938	-1.3%	+3.6%
Gross margin	73.0%	74.3%	73.8%
Selling, general and administrative	234	257	234	-9.2%	+0.0%
Operating income	1,269	1,239	1,198	+2.4%	+5.9%
Operating margin	46.2%	45.3%	45.6%
Interest expense	354	347	343	+2.1%	+3.5%
Pre-tax income	1,009	1,018	512	-0.9%	+97.2%
Income tax	122	140	131	-12.8%	-7.2%
Effective tax rate	12.1%	13.7%	25.7%
Net income	868	860	367	+0.9%	+136.5%
Net margin	31.6%	31.4%	14.0%
Diluted EPS	$1.86	$1.84	$0.78	+1.1%	+138.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	1,487	1,401	1,282	+6.2%	+16.0%
Capital expenditure	321	450	305	-28.6%	+5.4%
Free cash flow	1,166	951	977	+22.6%	+19.3%
Free cash flow margin	42.4%	34.7%	37.2%
Cash from investing	-360	-474	-491
Cash from financing	-972	-831	-907
Depreciation and amortisation	514	518	510	-0.7%	+0.8%
Share-based compensation	34.2	58.4	47.3	-41.4%	-27.7%
Buybacks	26.7	176	0.0	-84.8%
Dividends paid	834	793	796	+5.2%	+4.8%
Dividend per share	$1.79	$1.70	$1.70	+5.3%	+5.3%
Diluted shares, weighted	466m	467m	469m	-0.1%	-0.5%
Shares outstanding at period end	466m	466m	468m	-0.0%	-0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	3,720	3,523	3,713	+5.6%	+0.2%
Non-controlling interest	6,533	6,630	6,766	-1.5%	-3.4%
Debt	37,190	37,322	37,484	-0.4%	-0.8%
Operating lease liabilities	7,146	7,168	7,115	-0.3%	+0.4%
Other liabilities	8,712	8,593	8,676	+1.4%	+0.4%
Total liabilities and equity	63,300	63,235	63,754	+0.1%	-0.7%
Goodwill	12,182	12,193	12,246	-0.1%	-0.5%
Intangible assets	13,981	14,225	14,963	-1.7%	-6.6%
Cash and equivalents	1,762	1,609	2,076	+9.6%	-15.1%
Receivables	651	719	772	-9.5%	-15.7%
Other assets	34,725	34,489	33,698	+0.7%	+3.0%
Total assets	63,300	63,235	63,754	+0.1%	-0.7%

Questions

What was American Tower's revenue in Q2 FY2026?

American Tower (AMT) reported revenue of $2.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.7% on the same quarter a year earlier.

How much did American Tower earn in Q2 FY2026?

Net income for Q2 FY2026 was $868 million, up 136.5% on the year, and diluted earnings per share $1.86.

When did American Tower report Q2 FY2026 results?

American Tower filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 28 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,445	2,660	2,674	2,672	2,705	2,520	2,515	2,521	2,456	2,513	2,545	2,522	2,548	2,563	2,627	2,717	2,738	2,738	2,749	2,785
Cost of revenue	736	799	823	836	805	806	827	638	811	619	649	652	654	634	689	711	714	703	741	757
Gross profit	1,710	1,861	1,851	1,835	1,900	1,714	1,687	1,883	1,645	1,894	1,895	1,870	1,893	1,928	1,938	2,007	2,023	2,034	2,008	2,028
Gross margin	70%	70%	69%	69%	70%	68%	67%	75%	67%	75%	74%	74%	74%	75%	74%	74%	74%	74%	73%	73%
SG&A	216	294	223	231	224	264	244	220	252	244	218	228	243	238	234	233	236	257	234	228
Operating income	627	725	782	653	192	747	853	913	613	1,141	1,156	1,139	1,080	1,254	1,198	1,233	1,161	1,239	1,269	1,269
Operating margin	26%	27%	29%	24%	7%	30%	34%	36%	25%	45%	45%	45%	42%	49%	46%	45%	42%	45%	46%	46%
Interest expense	224	262	277	294	304	340	348	359	351	367	363	357	316	325	343	347	344	347	354	366
Pre-tax income	528	725	898	856	-759	368	475	643	35.2	921	847	550	1,306	618	512	950	965	1,018	1,009	898
Tax rate	17%	3%	1%	4%	n/a	14%	3%	8%	62%	10%	9%	22%	6%	19%	26%	4%	13%	14%	12%	13%
Net income	453	712	898	840	-684	336	476	587	84.9	917	900	-792	1,230	489	367	853	821	860	868	766
Net margin	19%	27%	34%	31%	-25%	13%	19%	23%	3%	37%	35%	-31%	48%	19%	14%	31%	30%	31%	32%	27%
Diluted EPS	$0.99	$1.56	$1.95	$1.80	-$1.47	$0.72	$1.02	$1.26	$0.18	$1.96	$1.92	-$1.69	$2.62	$1.04	$0.78	$1.82	$1.75	$1.84	$1.86	$1.64
Operating cash flow	679	664	915	932	1,185	1,070	1,209	1,301	1,142	1,284	1,338	1,469	1,199	1,295	1,282	1,460	1,428	1,401	1,487	1,393
Capital expenditure	460	386	370	459	658	462	421	391	525	397	325	425	443	331	305	466	579	450	321	397
Free cash flow	219	278	545	473	527	609	788	910	617	887	1,013	1,045	756	964	977	994	848	951	1,166	995
Buybacks	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	365	176	26.7	300
Dividends paid	597	641	639	666	684	734	727	732	755	793	756	757	757	757	796	796	796	793	834	834
Shares outstanding	456m	456m	466m	466m	466m	466m	466m	466m	466m	467m	467m	467m	467m	468m	468m	468m	466m	466m	466m	464m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-Q	10-K	10-K	10-K	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 28 July 2026: the filing.