Iron Mountain Inc (NYSE:IRM) reported its fourth-quarter results on Thursday, which topped Wall Street expectations.
The company reported adjusted earnings of 61 cents per share, up from 50 cents last year and above the 59-cent estimate. Adjusted funds from operations (AFFO) per share rose to $1.44 from $1.24 a year ago.
Revenue climbed to $1.843 billion, beating the $1.803 billion forecast. This growth was driven by strong storage rental and service revenue.
Adjusted EBITDA margin remained steady at 38.3%, with operating income at $341.04 million.
Storage rental revenue grew 13% to $1.06 billion, while service revenue surged 22% to $782 million.
By segment:
- Global Records and Information Management (RIM) revenue rose to $1.37 billion from $1.26 billion
- Global Data Center revenue climbed to $237 …