Verizon earnings: What to expect

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Verizon Communications Inc. is set to post first-quarter results Tuesday morning amid questions about whether industry subscriber growth is slowing.

AT&T Inc. T saw a smaller subscriber haul for its first quarter than it did in any quarter of 2022, though the company still reported 424,000 postpaid phone net additions for the period. Verizon VZ is expected to have shed subscribers on a net basis during the first quarter, and the company’s results will provide another gauge of industry health.AT&T Inc.

Stock movement: Verizon shares have fallen after four of the company’s past five earnings reports, though they gained after the most recent one. The stock has lost 28% over the past 12 months, lagging peers AT&T and T-Mobile US Inc. TMUS over the same span. The S&P 500 SPX is down about 3% over a 12-month span, while the Dow Jones Industrial Average DJIA , of which Verizon is a component, is roughly flat.

What else to watch for Verizon lost subscribers in all but one quarter of 2022, and analysts expect another quarter of declines when Verizon posts numbers Tuesday. Citi Research analyst Michael Rollins predicts a net loss of 250,000 consumer-wireless postpaid phone subscribers for the first quarter. Evercore ISI’s Vijay Jayant anticipates a net loss of 270,000 subscribers within the consumer postpaid phone segment, reflecting “continued challenges” and “a reversal from the modest gains” seen in the fourth quarter.

 

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