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AT&T, Verizon Upcoming EPS Will Be Lackluster

Posted by The Staff on Apr 18, 2012 5:13 PM

The wireless carrier business lacks luster due to intense competition within the space, according to analyst Greg Miller at Cancaccord Genuity.

The two largest wireless companies, AT&T (NYSE: T) and Verizon (NYSE: VZ), will report earning next week (Version reports on April 19th, and AT&T reports on April 24th.), but it is unlikely that either report will provide evidence that conditions are improving or that competition is easing.

"Although we expect the postpaid flow share to continue to favor Verizon," Miller Explains, "we believe it will become apparent that the US wireless market is becoming increasingly competitive and that subsidies for Apple products remain high with a continued adverse impact upon wireless services margins."

Concaccord Genuity has a hold rating on both Verizon and AT&T.

T is number 60 on the ESA 100, while VZ is number 63.

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