As we approach the end of this earnings season, we have seen earnings releases from 374 S&P 500 members so far. Among them, 71.4% were able beat earnings estimates, while 56.4% topped revenue expectations, as per our latest Zacks Trend Report. Overall, total earnings have recorded a 7.5% year-over-year drop on 1.9% lower revenues. For now, let’s focus on a few Wireless Communication stocks that are expected to announce quarterly results on May 6.
Wireless Communication: The Earnings Trend So Far
The Wireless Communication industry belongs to the broader Technology Sector, which has been under spotlight lately due to the underperformance of some of the sector’s leading companies. Total earnings for this sector are down 5.8% year over year. However, the sector’s revenues have shown 1% grown from the year-ago levels. So far, 65% of the companies that reported earnings have beaten our EPS estimates, while 50% of them surpassed revenue expectations.
Stocks in Focus
Here are three companies that are scheduled to release earnings tomorrow:
United States Cellular Corporation (NYSE:USM) is slated to release its first-quarter 2016 results before the market opens. The company has a Zacks Rank #3 (Hold) and an Earnings ESP of 0.00%. Our proven model does not conclusively show that US Cellular will beat the Zacks Consensus Estimate this quarter. Last quarter, the company delivered a positive earnings surprise of 95.35%. (Read More: US Cellular Q1 Earnings: Can the Stock Surprise?)
Gogo Inc. (NASDAQ:GOGO) is also expected to report its first-quarter 2016 earnings before the market opens. The company has a Zacks Rank #3 and an Earnings ESP of 0.00%. Again, our proven model does not conclusively show that Gogo is likely to beat the Zacks Consensus Estimate this quarter. Last quarter, the company delivered a negative earnings surprise of 7.50%.
NTELOS Holdings Corp. (NASDAQ:NTLS) is slated to release its first-quarter 2016 before the market opens. NTELOS too has a Zacks Rank #3 and an Earnings ESP of 0.00%. Our proven model does not conclusively show that NTELOS Holdings is likely to beat the Zacks Consensus Estimate this quarter. Last quarter, the company delivered a negative earnings surprise of 166.67%.
US CELLULAR (USM): Free Stock Analysis Report
NTELOS HOLDINGS (NTLS): Free Stock Analysis Report
GOGO INC (GOGO): Free Stock Analysis Report
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