American Tower reported that its common shares rallied 2.29% following the most recent trading session, outpacing the S&P 500’s 1.4% gain on the same day. For the quarter ended September 30, 2025, the company posted consolidated revenues of $2.31 billion, a 6.5% increase compared with the year-ago period, driven by a 4.8% organic leasing revenue uptick in the U.S. and 10.2% growth in its international portfolio. Adjusted funds from operations (AFFO) rose 8.1% year-over-year to $1.18 billion, or $1.77 per share, reflecting disciplined capital allocation and margin expansion across data center and small cell segments. The tower operator added 2,300 net new communications sites globally, bringing its total portfolio to 199,400 towers and in-building nodes. During the quarter, the Board approved a 3.5% increase in the quarterly dividend, to $0.66 per share, supporting an annualized payout of $2.64 and a dividend yield of approximately 3.8%. Net tower lease churn remained stable at 1.9%, underscoring high tenant retention amid rising 5G infrastructure deployments. Looking ahead, management reaffirmed its 2025 full-year outlook, targeting consolidated revenue growth of 6%–7% and AFFO per share growth of 8%–9%, underpinned by a backlog of $1.4 billion in contracted capacity installations across North America and Latin America.