American Tower Corp. (AMT) said its international markets in Mexico, Brazil and India are experiencing strong growth due to new spectrum and technology deployments during second-quarter earnings. Overall, the company reported an increase of 27.1% in its total revenue compared to the same period of 2010, reaching $597.2 million.”Coupled with our successful introduction of the collocation business model into a number of new countries in Latin America and Africa, this strong legacy market performance resulted in a near doubling of our international segment revenue in the second quarter,” said American Tower CEO Jim Taiclet.The company spent approximately $275.2 million for acquisitions in the second quarter, which included the purchase of international towers, which were under prior acquisition agreements. In Latin America, American Tower had 170 additional towers in Chile, 23 in Brazil and 15 in Colombia. In mid-July, American Tower announced plans to buy 2,126 towers from Millicom International Cellular S.A. (MIC) subsidiary Colombia Móvil for $182 million in cash.
The company also reported that total rental and management gross margin increased 25.1% to $443.1 million, and total selling, general, administrative and development expense was $72.3 million, including $11.7 million of stock-based compensation expense.
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