Earnings Preview: AT&T

AT&T (T) is expected to report Q3 earnings before the market open on Thursday, October 22 with a conference call scheduled for 10 am ET.

Guidance

Analysts are looking for EPS of 50c on revenue of $30.88B. The consensus range is 46c-54c for EPS, and revenue of $30.64B-$31.07B, according to First Call. AT&T's shares have had little movement in Q3, gaining 4.51%. The company's strongest segment is its wireless business, which is driven mainly by the Apple (AAPL) iPhone, for which AT&T is the exclusive U.S. provider. However, it is believed that AT&T may not be the sole wireless provider for the iPhone for much longer. On October 13, the company announced that the U.S. Justice Department approved its proposed purchase of Centennial Communications (CYCL). Investors should note that despite the lack of movement, AT&T has beaten estimates in the past two quarters.