Total revenue increased 20.2% to $1,394.3 million and total rental and management revenue increased 20.9% to $1,366.3 million. Total rental and management Gross Margin increased 20.8% to $1,045.0 million. Total selling, general, administrative and development expense was $156.4 million, including approximately $25.7 million of stock-based compensation expense. Adjusted EBITDA increased 21.1% to $928.2 million, and the Adjusted EBITDA Margin was 67%.
Total rental and management revenue Core Growth was approximately 23.6%, and Core Growth in Adjusted EBITDA was approximately 23.3%. Please refer to the selected statement of operations detail on page 14, which highlights the items affecting the Core Growth percentages.
Operating income increased 22.7% to $544.9 million, net income attributable to American Tower Corporation increased 30.2% to $269.5 million, and net income attributable to American Tower Corporation per basic and diluted common share both increased 30.8% to $0.68.
AFFO increased 19.8% to $624.4 million, and AFFO per Share increased 20.8% to $1.57. Core Growth in AFFO was approximately 22.2%.Cash provided by operating activities increased 36.4% to $762.9 million. Segment Results Domestic Rental and Management Segment – Domestic rental and management segment revenue increased 14.0% to $960.5 million, which represented 69% of total revenues. In addition, domestic rental and management segment Gross Margin increased 16.0% to $779.4 million, while domestic rental and management segment Operating Profit increased 16.2% to $738.9 million. Domestic rental and management segment Operating Profit Margin was 77%. International Rental and Management Segment – International rental and management segment revenue increased 40.9% to $405.8 million, which represented 29% of total revenues. International rental and management segment pass-through revenues increased 42.5% to $104.0 million. In addition, international rental and management segment Gross Margin increased 37.2% to $265.6 million, while international rental and management segment Operating Profit increased 43.7% to $222.3 million. International rental and management segment Operating Profit Margin was 55% (74%, excluding the impact of $104.0 million of pass-through revenues). Network Development Services Segment – Network development services segment revenue was $28.0 million, which represented 2% of total revenues. Network development services segment Gross Margin was $13.9 million, and network development services segment Operating Profit was $11.6 million. Network development services segment Operating Profit Margin was 42%. Please refer to Non-GAAP and Defined Financial Measures on pages 6 and 7 for definitions of Gross Margin, Operating Profit, Operating Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Funds From Operations, Adjusted Funds From Operations, Adjusted Funds From Operations per Share, Core Growth and Net Leverage Ratio. For additional financial information, including reconciliations to GAAP measures, please refer to the unaudited selected financial information on pages 12 through 16.
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