Telecommunications

Arista Networks, Inc. Reports Third Quarter 2023 Financial Results

/ / Telecommunications /

Arista Networks, Inc. Reports Third Quarter 2023 Financial Results SANTA CLARA, Calif.–(BUSINESS WIRE)–October 30, 2023– Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center, campus and routing environments, today announced financial results for its third quarter ended September 30, 2023. Third Quarter Financial Highlights “Arista once again delivered strong financial results in the third quarter,” says Jayshree Ullal, President and CEO of Arista Networks. “Customer momentum remained strong in both enterprise and cloud/AI sectors.”   —  Revenue of $1.509 billion, an increase of 3.5% compared to the second      quarter of 2023, and an increase of 28.3% from the third quarter of      2022.   —  GAAP gross margin of 62.4%, compared to GAAP gross margin of 60.6% in      the second quarter of 2023 and 60.3% in the third quarter of 2022.   —  Non-GAAP gross margin […]

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CFRA Maintains Strong Buy Opinion On Shares Of T-mobile Us, Inc.

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $175, applying an EV/EBITDA multiple of 9.9x to our 2024 estimate, a premium to its three-year historical average multiple at 9.0x, reflecting strong postpaid consumer net additions. We trim our 2023 EPS estimate by $0.12 to $7.64 and lower 2024’s by $0.08 to $10.17. TMUS reported Q3 operating EPS of $2.00 vs. $2.27, $0.11 above the consensus. Q3 service revenue increased 4%, driven by 6% growth in postpaid service, while equipment revenue fell 20% due to lower postpaid upgrades and prepaid sales. Postpaid phone net additions were 850K, leading the industry, while prepaid net adds were 79K and Internet net adds came in at 557K. Overall results were very strong, with a slight increase to FCF guidance despite slightly higher

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CFRA Maintains Sell Opinion On Shares Of Verizon Communications Inc.

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $30, applying an EV/EBITDA multiple of 6.1x to our 2024 estimate, a slight discount to its three-year historical average multiple at 6.8x, reflecting our view that it will continue to lose market share. We raise our 2023 EPS estimate by $0.05 to $4.70 and trim 2024’s by $0.05 to $4.63. VZ reported Q3 operating EPS of $1.22 vs. $1.32, $0.04 above the consensus. Q3 revenue declined 2.6%, driven by a 2.3% drop in the Consumer segment due to an 11.8% decline in equipment revenue, as well as a 4.0% fall in the Business segment driven by a 15.9% decline in wholesale revenue. Consumer retail postpaid phone net losses were 51K, while business postpaid phone net adds were 151K. While results

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Verizon Reports Strong 3Q Results Momentum, Raises Free Cash Flow Guidance

/ / Telecommunications /

Verizon reports strong 3Q results momentum, raises free cash flow guidance Company ended the quarter with approximately 10.3 million broadband subscribers, an increase of nearly 21 percent year over year Year-to-date cash flow from operations increased approximately $600 million year over year, and year-to-date free cash flow(1) increased $2.2 billion year over year 3Q 2023 highlights Consolidated: — $1.13 in EPS, compared with $1.17 in third-quarter 2022; adjusted EPS1, excluding special items, of $1.22, compared with $1.32 in third-quarter 2022. — Total operating revenue of $33.3 billion, a decrease of 2.6 percent from third-quarter 2022. — Year-to-date cash flow from operations of $28.8 billion, an increase from $28.2 billion in 2022. — Free cash flow1 year-to-date was $14.6 billion, an increase from $12.4 billion in 2022. — Net income of $4.9 billion, a decrease of 2.8 percent from third-quarter 2022, and consolidated adjusted EBITDA1 of $12.2 billion, up 0.2 percent

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CFRA Raises Opinion On Shares Of At&t Inc. To Hold From Sell

/ / Telecommunications /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $3 to $16, 6.4x our ’24 EPS estimate, a discount to its three-year forward average P/E at 8.0x, reflecting its highly leveraged balance sheet. We increase our ’23 EPS estimate by $0.02 to $2.43 and raise ’24’s by $0.04 to $2.49. T reported Q3 operating EPS of $0.64 vs $0.68, $0.02 above the consensus. Q3 revenue rose 1.0%, with 2.0% growth in mobility, driven by 3.7% service growth and 4.6% growth in consumer wireline, partially offset by a 7.9% drop in business wireline. Postpaid phone net adds were 468k, prepaid adds came in at 26k, and fiber net adds were 296k. Given the solid Q3 results, coupled with what we saw in Q2, we believe the ship is slowly beginning

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AT&T Shares Rise Following Q3 Beat

/ / Telecommunications /

AT&T (T) shares rose by more than 7% in recent Thursday trading after the company logged Q3 results that beat Wall Street’s expectations. The company posted Q3 adjusted earnings from continuing operations of $0.64 per diluted share, down from $0.68 a year earlier. Analysts polled by Capital IQ expected $0.62. Operating revenue for the quarter ended Sept. 30 was $30.35 billion, up from $30.04 billion a year earlier. Analysts surveyed by Capital IQ expected $30.24 billion. The company said it now anticipates 2023 adjusted earnings before interest, taxes, depreciation and amortization growth of more than 4% versus its prior guidance of over 3%. Free cash flow for the year is now expected to be roughly $16.50 billion versus AT&T’s prior outlook of at least $16 billion, the company said.

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AT&T’s Fiber Gains Offset Non-Fiber Losses

/ / Telecommunications /

AT&T reached a key milestone in the third quarter. Gains from the company’s next-generation fiber network offset losses from its legacy non-fiber footprint, generating net gains for the consumer broadband business. Excluding DSL and AT&T’s nascent fixed-wireless access service, the company eked out a net consumer broadband gain of 15,000, including fiber gains of 296,000. That propelled AT&T’s broadband revenues almost 10% higher, lifted by a nearly 27% gain in consumer fiber revenue. The company raises its full-year broadband revenue growth outlook to at least 7%, up from at least 5%.

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