Why did AMT's network services revenue rebound in Q3 2024?

American Tower's network services revenue rebounded in Q3 2024 due to several key factors: 1. **Resolution of Collections Issues in India**: American Tower had previously reported collection issues in its Indian operations, which had been an overhang on its overall performance. The resolution of these issues allowed for improved revenue generation from this segment. 2. **Organic Tenant Billings Growth**: The company reported organic tenant billings growth of 5.3% in its U.S. & Canada segment, which contributed to the overall revenue growth. This growth was driven by positive collection trends and over 5% organic tenant billings growth in India. 3. **Strategic Shift**: American Tower's shift in capital allocation from emerging markets to developed markets and data centers is viewed positively by analysts. This strategic pivot is expected to enhance risk-adjusted returns and improve earnings quality. In summary, the rebound in network services revenue can be attributed to the resolution of collections issues, organic tenant billings growth, and strategic shifts in capital allocation. |code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code| |---|---|---|---|---|---|---|---| |AMT|AMT.N|American Tower|2023 Q4|101.85598660340496|49.826145305923255||169| |AMT|AMT.N|American Tower|2024 Q1|192.6031746031746|2.4176062445793582|172.22222222222223|169| |AMT|AMT.N|American Tower|2024 Q2|96.83640303358612|4.639751776887831|88.23529411764704|169| |AMT|AMT.N|American Tower|2024 Q3|-235.1810150701542|0.047598270596168335|-234.12698412698413|169| |code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code| |---|---|---|---|---|---|---|---| |AMT|AMT.N|American Tower|2023 Q4|101.85598660340496|49.826145305923255||169| |AMT|AMT.N|American Tower|2024 Q1|192.6031746031746|2.4176062445793582|172.22222222222223|169| |AMT|AMT.N|American Tower|2024 Q2|96.83640303358612|4.639751776887831|88.23529411764704|169| |AMT|AMT.N|American Tower|2024 Q3|-235.1810150701542|0.047598270596168335|-234.12698412698413|169|