How did AMT's revenue and expenses shift in Q4 2024?

American Tower Corporation (AMT) experienced a notable shift in its revenue and expense profile in Q4 2024, reflecting strategic adjustments and market dynamics: 1. **Revenue Shift**: - **Property Rental and Management**: The core business of rental and management of communications sites contributed significantly, with 98.7% of net sales coming from this segment. - **International Growth**: Revenue from international markets showed strong growth, with notable increases in Europe (5.7%), Latin America (2.2%), and Africa (13.2%) in net organic tenant billings. - **Data Center Expansion**: The growth in data center services, including a 12.7% year-over-year increase in total operating revenue, highlighted the rising demand for hybrid cloud technology. 2. **Expense Shift**: - No results were found for operating expenses in Q4 2024. - The absence of expense data makes it difficult to analyze specific trends or changes in cost management. 3. **Strategic Insights**: - **Market Focus Shift**: American Tower plans to shift its investment focus towards developed economies, reducing exposure to emerging markets. - **Data Center Investments**: The company is investing in data center expansion, including a joint venture to build a new facility in Denver, Colorado. 4. **Financial Outlook**: - Analysts expected a 10.4% decrease in revenue to $2.54 billion in the period ending March 31, 2025, compared to $2.83 billion a year ago. - The expected earnings per share (EPS) for this period was $1.61, with a current average analyst rating of "buy" and a median 12-month price target of $235.00, indicating positive sentiment. In conclusion, American Tower's Q4 2024 financials reflect a company strategically focused on developed markets and data center expansions, with international growth areas showing strong potential. However, the absence of expense data limits a comprehensive analysis of financial performance.