AT&T Inc. is set to report its Q3 2023 results on Wednesday, where it anticipates year-on-year top-line growth due to its investments in 5G and fiber broadband infrastructure. The company expanded its 5G network throughout the country in the third quarter and is planning to deploy mid-band spectrum to 200 million users by the end of 2023. Additionally, AT&T has set a goal to reach over 30 million locations with fiber by the end of 2025.
In Q3, AT&T partnered with Deloitte and Boldyn Networks to boost ESG data collection for sustainable operations and expand coverage for the San Francisco Municipal Transportation Agency. The company also likely saw solid postpaid phone additions, and the merging of scaled wireless and fiber networks under a single platform is expected to yield economic benefits. According to InvestingPro's real-time metrics, AT&T's market cap stands at a robust 103.02B USD, and the company's revenue for LTM2023.Q2 is a substantial 121.44B USD.
Despite these positive developments, AT&T has been grappling with stiff competition from other carriers and a substantial debt burden that undermines its competitiveness. The company's top line is also affected by consumers' propensity to switch between various streaming services. Inflationary pressures, a challenging macroeconomic environment, and business uncertainty are leading consumers to take a more conservative approach to higher-tier services. This is reflected in AT&T's revenue growth for LTM2023.Q2, which shows a slight decrease of -0.27%.
The Zacks Consensus Estimate for total revenues is $30,202 million, indicating a slight rise from the $30,043 million reported in the same quarter of the previous year. The consensus mark for earnings is currently 63 cents per share, down from 68 cents in the year-earlier quarter. Revenues from the Communications segment are estimated at $29,590.7 million, while that from the Latin America segment is $897.3 million.
AT&T's Earnings ESP is +3.54%, and it holds a Zacks Rank #3. Other companies expected to beat earnings this season include Intel Corporation (NASDAQ:INTC), Silicon Motion (NASDAQ:SIMO) Technology Corporation (NASDAQ:SIMO), and Meta Platforms, Inc. (NASDAQ:META).
In line with the InvestingPro Tips, AT&T is a prominent player in the Diversified Telecommunication Services industry and has maintained dividend payments for 40 consecutive years, which is a testament to its financial stability. The company's dividend yield for Y2023.D289 is a significant 7.73%, demonstrating its commitment to rewarding shareholders. For more insightful tips and real-time metrics, consider subscribing to InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.