Market Overview

Big Carrier Earnings: 2 Down, 2 To Go

Big Carrier Earnings: 2 Down, 2 To Go

So far, Verizon Communications Inc. (NYSE: VZ) announced its earnings results for the third quarter, and Sprint Corp (NYSE: S) revealed preliminary results. Two more companies, AT&T Inc. (NYSE: T) and T-Mobile US Inc (NASDAQ: TMUS) have yet to report.

As far as Verizon's report is concerned, it was a mixed one. The telecom service provider earned a profit of $3.75 billion, or $0.89 a share, on revenue of $30.94 billion. On a Non-GAAP basis, its EPS would have been $1.01. Analysts expected EPS of $0.99 on revenue of $31.09 billion. As a result, the stock lost about 4 percent after the results announcement.

Related Link: Competitive Pressure keeps Goldman Sidelined On Verizon Shares

On October 18, Sprint provided preliminary results that indicated total operating revenues of $8.25 billion for the second quarter. This was higher than the estimates of $8.02 billion. The company expects a loss of $142 million, narrower than $585 million suffered in the previous year quarter. Following this, the stock gained more than 3 percent on October 18 but surrendered all the gains currently. The company will announce its full results on October 25.

Yet To Come

T-Mobile will announce its results on October 24. Street analysts are looking for an EPS of $0.23 on revenue of $9.42 billion. The expectations suggest EPS growth of more than 50 percent on estimated revenue uptick of 20.10 percent.

AT&T is scheduled to disclose its results on October 25. Analysts expect a flat EPS of $0.74 on revenue growth of 5.3 percent at $41.15 billion.

At Last Check ...

  • AT&T was down 3 percent at $37.48.
  • Sprint was down 2.16 percent at $6.58.
  • T-Mobile was down 0.64 percent at $46.75.
  • Verizon was down 1.68 percent at $48.31.

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