Telecommunications giant Verizon (NYSE:VZ) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
Verizon met analysts’ revenue expectations last quarter, reporting revenues of $33.33 billion, flat year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ adjusted operating income estimates.
Is Verizon a buy or sell going into earnings? Read our full analysis here, it’s free .
This quarter, analysts are expecting Verizon’s revenue to be flat year on year at $35.33 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $1.09 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Verizon has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Verizon’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. American Airlines reported revenues up 4.6%, topping estimates by 1.8%.
Read our full analysis of American Airlines’s results here .
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Verizon is down 2.1% during the same time and is heading into earnings with an average analyst price target of $47.16 (compared to the current share price of $39.11).
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