AT&T Earnings: What To Look For From T
Telecommunications conglomerate AT&T (NYSE:T) will be reporting results this Wednesday before the bell. Here’s what investors should know.
AT&T missed analysts’ revenue expectations last quarter, reporting revenues of $31.56 billion, up 2.3% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is AT&T a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AT&T’s revenue to grow 3.1% year on year, improving from the 1.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AT&T has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AT&T’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 4.3%, meeting analysts’ expectations, and Carnival reported revenues up 3.5%, topping estimates by 1.1%. Levi's traded down 2.4% following the results while Carnival was up 10.8%.
Read our full analysis of Levi’s results here and Carnival’s results here.
Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. AT&T is down 8.9% during the same time and is heading into earnings with an average analyst price target of $28.76 (compared to the current share price of $23.20).
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