American Tower Corp Q3 2023 Earnings Call Summary

Edited Brief of AMT.N earnings conference call or presentation 26-Oct-23 12:30pm GMT

...A. Beginning with our macro tower business, the fundamental factor that drives demand for our global tower portfolio, growth in mobile data consumption continues unabated. B. This is true both in the United States and across the globe, where mobile network data traffic has almost doubled over the last 2 years alone to a staggering 126 exabytes per month. C. Looking out over the next 5 years, forecasted growth in data traffic per device remains compelling as more spectrum for 5G networks will be deployed at scale. D. Average monthly data usage per smartphone across our key developed markets like the U.S., Germany and Spain is expected to grow at a healthy compounded annual rate of 18% between 2023 and 2028. E. Just as we saw with the 3G and 4G rollouts, we expect the 5G investment cycle to play out in 3 phases that represent discrete business cases for the carriers and these 3 phases will drive 2 peak periods of spend that are bridged by a temporary phase of more moderate activity. F. Initial...

Brief