Telecommunications conglomerate AT&T (NYSE: T) will be reporting earnings this Wednesday before market open. Here’s what to look for.
AT&T beat analysts’ revenue expectations last quarter, reporting revenues of $31.51 billion, up 2.9% 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 2.9% year on year, in line with the 3.5% 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. 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 Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts’ expectations by 8.7%, and Delta reported revenues up 18.7%, topping estimates by 3.9%. Delta traded down 3.2% following the results.
Read our full analysis of AMC Entertainment’s results here and Delta’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 2.2% on average over the last month. AT&T’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $29.03 (compared to the current share price of $21.96).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
