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Verizon Communications (NYSE:VZ) is expected to report Q2 earnings before the market open on Thursday, July 19, with a conference call scheduled for 8:30 am ET.

Guidance

Analysts are looking for EPS of 64c on revenue of $28.56B. The consensus range is 61c-67c for EPS, and revenue of $28.21B-$29B, according to First Call. Verizon reported positive Q1 results, narrowly beating both EPS and revenue estimates. On its Q1 conference call, the company said it expected to see increasing free cash flow levels going forward, and that top line growth trends continued to be very positive. In a bid to raise revenue per subscriber, Verizon recently decided to eliminate unlimited data plans for customers who upgraded to its 4G LTE high-speed mobile network. The shares have traded sharply higher since Q1 results were released in late April, making a fresh 52-week high of $45.95 in early trading Wednesday. Since hitting a 52-week low of $32.28 in August of last year, the shares are up approximately 70%, and currently sit near three-year highs. With so much good news discounted in the shares, investors will need exceptional results to justify further commitments.

Source: Earnings Preview: Verizon Communications