American Tower (NYSE:AMT) shares rose more than 4% intra-day today after the company reported first-quarter revenue that exceeded analyst estimates.

The company posted revenue of $2.56 billion for the quarter, beating the consensus forecast of $2.54 billion. Total property revenue edged up 0.2% year-over-year to $2.49 billion, supported by steady global leasing activity.

Net income fell 45.9% to $499 million, largely due to foreign currency losses, overshadowing otherwise stable operating trends. Adjusted EBITDA rose 1.9% year-over-year to $1.74 billion, reflecting modest growth in the company’s core profitability.

For full-year 2025, American Tower expects property revenue between $9.97 billion and $10.12 billion, targeting around 1.1% growth at the midpoint. Adjusted EBITDA is projected to range between $6.89 billion and $6.96 billion, implying a 1.6% increase.