Major mobile carriers T-Mobile, Verizon, and AT&T are expected to make significant announcements this week.

The "Big-3" U.S. carriers will each be reporting their third quarter earnings over the next week.
AT&T is set to release its third-quarter earnings tomorrow, October 22nd, before the market opens at 9:30 am ET. T-Mobile will release its Q3 numbers on Thursday morning. Verizon will release its Q3 earnings on October 29th, a delay from its initially planned release today.
Analysts expect AT&T to reveal earnings of 54 cents per share for the period from July to September. This would represent an 11% increase from the previous year's Q3 earnings if the estimates are accurate. AT&T's stock has increased 14% this year, matching the S&P 500's gains, though it has fallen 11.18% over the past month.
For T-Mobile, analysts anticipate an 8% decline in its bottom line for the third quarter, projecting earnings of $2.40 per share. T-Mobile's stock is up 5% this year. While the shares reached their 52-week high of $276.49 on March 3, 2025, they have since decreased by 17.1%.
Wall Street anticipates that Verizon's earnings will remain flat at $1.19 per share year-over-year when the company releases its Q3 results on October 29th. Some investors worry about Verizon's annual dividend of $2.76. The shares have a yield of 6.85%, with a quarterly payout of 69 cents per share. Dan Schulman, the new CEO who succeeded Hans Vestberg on October 6th, may consider reducing the dividend.
JPMorgan analyst Sebastiano Petti suggested in a report to clients that Schulman may want to increase Verizon's fiber footprint, which would necessitate higher capital expenditures. Petti wrote that JPMorgan would not be surprised if "Verizon suspends dividend growth to prioritize investment in growth initiatives and/or discretionary share buybacks."
TD Cowen analyst Gregory Williams expressed a similar sentiment, stating that "2026 will see heavy capital spending and operating expenses to expand and integrate the Frontier businesses," and that Verizon might target its dividend. Williams said the new CEO "seems like a stopgap we suspect could possibly be the fall guy for a dividend cut." Verizon shares are up 1.5% in 2025.
T-Mobile will replace Mike Sievert with Srinivasan Gopalan as CEO and president on November 1st.
Craig Moffett, an analyst at MoffettNathanson, stated, "We'll be looking for signs of strategy shifts at Verizon or T-Mobile. Both have new CEOs...the transition at Verizon was completely unexpected. This will be the first opportunity for Dan to put his stamp on Verizon's strategic direction."
Analysts estimate T-Mobile will add 840,000 postpaid phone subscribers in the third quarter, while AT&T will add 332,000 and Verizon will add 47,000. Net postpaid phone subscriber count is considered an important metric for wireless analysts.
RBC Capital analyst Jonathan Atkin noted, "Q3 will be Mike Sievert's last quarter as CEO. We do not expect that he is leaving the company on a weaker footing."
(Advertisement removed)