Business

Mass. Movers

Cell tower owner’s revenue up in quarter

James D. Taiclet Jr. is chief executive of American Tower.

Essdras M Suarez/Globe staff/file

James D. Taiclet Jr. is chief executive of American Tower.

Advertisement

American Tower Corp., an owner and developer of wireless and broadcast communication real estate, said fourth-quarter revenue rose as its rental and management segment improved, but higher expenses weighed on the bottom line. American Tower said it earned $100 million, or 25 cents a share, down from $135.7 million, or 34 cents, a year earlier. Total revenue climbed 22.6 percent to $942 million, beating estimates. Rental and management revenue climbed 24.9 percent but operating expenses also rose.

Loading comments...