PREVIEW: AT&T stock dials back, Wall St sees Q3 EPS drop, rev rise
** Shares in telecom service provider AT&T Inc T.N were down 0.9% on Tuesday in last session ahead of the third-quarter report due out before the market open on Wednesday
** Wall Street estimates that A&T will report adj EPS of $0.57 vs. $0.64 in year ago quarter on rev of $30.4 bln, which would be up 0.3%% y/y, according to the latest data from LSEG
** In the last 8 quarters AT&T rev met or beat Wall Street estimates just 3 times while EPS met or beat consensus 6 times
** Shares in rival telco Verizon VZ.N fell 4.8% Tues as it missed Q3 rev estimates as high interest rates forced customers to cut phone upgrade spending, offsetting beat in mobile subscriber growth. It also forecast 2025 capex above estimates as it boosts high-speed internet services
** AT&T shares rallied July 24 after its Q2 wireless subscriber growth beat expectations on demand for higher-tier unlimited plans
** AT&T shares last traded at $21.47 vs median PT of $23, up from $22 a month ago, according to LSEG, which shows 29 analyst ratings; 5 'strong buy,' 11 'buy,' 11 'hold' and 2 'sell'
**YTD shares in AT&T up ~28%, eyeing first annual gain since 2019 while S&P 500 communications services index .SPLRCL is up 28.6%, which would be its second yearly gain in a row
(Reporting By Sinéad Carew)
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