Telecommunications giant Verizon (NYSE:VZ) will be reporting results this Monday before the bell. Here’s what to look for.
Verizon missed analysts’ revenue expectations last quarter, reporting revenues of $34.25 billion, flat year on year. It was a slower quarter for the company, with EBITDA in line with analysts’ estimates.
Is Verizon 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 Verizon’s revenue to grow 2.8% year on year, improving from the 1.5% 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. Verizon has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Verizon’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AT&T delivered year-on-year revenue growth of 5.3%, beating analysts’ expectations by 2.1%, and Comcast reported flat revenue, in line with consensus estimates. AT&T traded down 2.9% following the results while Comcast was up 2.8%.
Read our full analysis of AT&T’s results here and Comcast’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Verizon is down 5.3% during the same time and is heading into earnings with an average analyst price target of $51.24 (compared to the current share price of $44.57).
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