Revenue during the quarter grew 20.27 percent to $1,539.55 million from $1,280.04 million in the previous year period.

Cost of revenue surged 36.93 percent or $131.62 million during the quarter to $488 million. Gross margin for the quarter contracted 386 basis points over the previous year period to 68.30 percent.

Total expenses were $1,050.25 million for the quarter, up 19.63 percent or $172.34 million from year-ago period. Operating margin for the quarter expanded 37 basis points over the previous year period to 31.78 percent.

Operating income for the quarter was $489.30 million, compared with $402.12 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $935.68 million compared with $801.53 million in the prior year period. At the same time, adjusted EBITDA margin contracted 184 basis points in the quarter to 60.78 percent from 62.62 percent in the last year period.

For fiscal year 2017, American Tower Corp expects revenue to be in the range of $6,210 million to $6,390 million. The company forecasts net income to be in the range of $1,175 million to $1,245 million.

Revenue from real estate activities during the quarter increased 20.27 percent or $259.51 million to $1,539.55 million. Revenue from sale of real estate was $18.20 million for the quarter, down 37.05 percent or $10.72 million from year-ago period.

Income from operating leases during the quarter rose 21.60 percent or $270.22 million to $1,521.35 million.

Jim Taiclet, American Tower's chief executive officer stated, "In 2016, we once again generated double digit growth in our property revenue, Adjusted EBITDA and Consolidated AFFO per Share. At the same time, we continued to expand our asset base through our active tower construction program and accretive acquisitions like the Viom transaction in India and ended the year with nearly 145,000 towers and small cell systems."

The company has spent $2,107.45 million cash to meet investing activities during the year as against cash outgo of $7,741.74 million in the last year.

The company has spent $99.29 million cash to carry out financing activities during the year as against cash inflow of $5,589.10 million in the last year period.

Cash and cash equivalents stood at $787.16 million as on Dec. 31, 2016, up 145.46 percent or $466.47 million from $320.69 million on Dec. 31, 2015.

Receivables move up
Net receivables were at $1,149.89 million as on Dec. 31, 2016, up 19.75 percent or $189.64 million from year-ago. Accounts payable increased 22.70 percent or $21.95 million to $118.67 million on Dec. 31, 2016.

Investments stood at $4.03 million as on Dec. 31, 2016.

Total assets grew 14.77 percent or $3,974.88 million to $30,879.15 million on Dec. 31, 2016. On the other hand, total liabilities were at $22,811.73 million as on Dec. 31, 2016, up 12.98 percent or $2,620.28 million from year-ago.

Return on assets moved down 2 basis points to 1.36 percent in the quarter. At the same time, return on equity moved down 17 basis points to 2.90 percent in the quarter.