Bartis HK - Analysts Eye AT&T's Earnings, Wireless Growth and Free Cash Flow

Ahead of AT&T Inc. (T)'s early-Thursday earnings reveal, shares of the telecom colossus have risen 7% in 2023, outperforming 2022's lackluster performance.
CENTRAL, Hong Kong - May 25, 2023 - PRLog -- Despite the company's return to its telecom origins following the sale of media and other assets, some institutional investors are still wary of T stock.

It is anticipated that T's earnings per share for the March quarter will decrease by 25% to 58 cents. Analysts forecast revenue of $30.2 billion, a decrease of 20% due to divestitures.

As part of its divestitures T separated off WarnerMedia at the beginning of April 2022. Then, WarnerMedia and Discovery rapidly merged to establish Warner Bros. Discovery (WBD).

T Stock: Wireless Expansion Expected

In the first quarter, analysts anticipate AT&T to add 396,000 wireless "postpaid" customers, compared to 691,000 in the same period of the prior year. T-Mobile US (TMUS) and Verizon Communications (VZ) may also experience a slowdown in subscriber growth.

T-Mobile reports on April 27 while Verizon reports on April 25.

Bank of America Corporation (BAC)'s Barden continued, "We expect AT&T's wireless subscriber growth to remain strong as the business maintains its focus on retention and uses handset promotions to attract new customers." Coupled with customer growth, we anticipate a 5.7% year-over-year increase in service revenue to $15.6 billion, in accordance with the consensus.

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