BOSTON (AP) _ American Tower Corp. (AMT) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.

The Boston-based real estate investment trust said it had funds from operations of $945.4 million, or $2.12 per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of $2.04 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $415 million, or 93 cents per share.

The wireless communications infrastructure company posted revenue of $1.99 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $2 billion.

The company's shares have increased nearly 6% since the beginning of the year, while the Standard & Poor's 500 index has fallen 11%. The stock has risen 27% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMT at https://www.zacks.com/ap/AMT

Automated Insights, source Associated Press News