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Telecommunications giant Verizon (NYSE:VZ) will be reporting earnings tomorrow morning. Here’s what investors should know.
Verizon beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $35.68 billion, up 1.6% year on year. It was a mixed quarter for the company, with EPS in line with analysts’ estimates but a miss of analysts’ adjusted operating income estimates. It added 1.33 million customers to reach a total of 146.1 million.
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 grow 1.1% year on year to $33.33 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $1.15 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 six times over the last two years.
Looking at Verizon’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Nike’s revenues decreased 9.3% year on year, beating analysts’ expectations by 2.3%, and Levi's reported revenues up 3.1%, falling short of estimates by 0.8%. Nike traded down 5.4% following the results while Levi's was also down 8.2%.
Read our full analysis of Nike’s results here and Levi’s results here.
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