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SEC Filings

10-Q
 filed this Form 10-Q on 10/31/2017
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Results of Operations
Three and Nine Months Ended September 30, 2017 and 2016
(in thousands, except percentages)

Revenue
 
Three Months Ended September 30,
 
Percent Increase (Decrease)
 
Nine Months Ended September 30,
Percent Increase (Decrease)
 
2017
 
2016
 
 
2017
 
2016
 
Property
 
 
 
 
 
 
 
 
 
 
 
U.S.
$
904,181

 
$
837,002

 
8
%
 
$
2,693,361

 
$
2,518,426

 
7
%
Asia
297,545

 
269,907

 
10

 
867,632

 
557,734

 
56

EMEA
155,438

 
130,664

 
19

 
465,473

 
395,066

 
18

Latin America
298,185

 
260,363

 
15

 
861,122

 
720,553

 
20

Total property
1,655,349

 
1,497,936

 
11

 
4,887,588

 
4,191,779

 
17

Services
25,417

 
16,909

 
50

 
71,850

 
54,340

 
32

Total revenues
$
1,680,766

 
$
1,514,845

 
11
%
 
$
4,959,438

 
$
4,246,119

 
17
%

Three Months Ended September 30, 2017

U.S. property segment revenue growth of $67.2 million was attributable to:
Tenant billings growth of $51.8 million, which was driven by:
$38.4 million due to colocations and amendments;
$11.5 million from contractual escalations, net of churn;
$2.1 million generated from newly acquired or constructed sites; and
A decrease of $0.2 million from other tenant billings; and
$15.4 million of other revenue growth, primarily due to the impact of straight-line accounting.

Asia property segment revenue growth of $27.6 million was attributable to:
Tenant billings growth of $14.5 million, which was driven by:
$16.3 million due to colocations and amendments;
$1.0 million generated from newly acquired or constructed sites; and
A decrease of $2.8 million resulting from churn in excess of contractual escalations;
Pass-through revenue growth of $13.0 million; and
A decrease of $12.1 million in other revenue primarily due to an increase of $8.3 million in revenue reserves.

Segment revenue also increased by $12.2 million attributable to the impact of foreign currency translation related to fluctuations in Indian Rupees (“INR”).

EMEA property segment revenue growth of $24.8 million was attributable to:
Tenant billings growth of $26.5 million, which was driven by:
$17.7 million generated from newly acquired or constructed sites, primarily due to the FPS Acquisition;
$4.7 million from contractual escalations, net of churn;
$4.2 million due to colocations and amendments; and
A decrease of $0.1 million from other tenant billings;
$2.3 million of other revenue growth; and
An increase in pass-through revenue of $0.3 million.


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