Verizon Communications Inc. (NYSE:VZ) is expected to report shrinking earnings and revenue when it posts its third-quarter results before the opening bell on October 24.
The analyst consensus for the telecommunications giant is earnings of $1.18 per share on revenue of $33.25 billion, compared to $1.32 per share on revenue of $34.24 billion a year ago.
What’s more, the consensus EPS estimate for Verizon has been revised down more than 2% over the past 30 days, according to Zacks.
However, the company has beaten earnings expectations in three of the last four quarters.
Investors will also be hoping for an increase in revenue from Verizon’s 5G network and services in the US.
Shares of Verizon traded 1.5% lower Wednesday to $31.05.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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