Core Viewpoint - T-Mobile is expected to report a decline in quarterly earnings per share while experiencing revenue growth compared to the previous year [1] Financial Performance Estimates - Quarterly earnings per share (EPS) are projected at $2.11, a decrease of 17.9% year-over-year [1] - Revenue is forecasted to be $23.64 billion, reflecting an increase of 8.1% compared to the same period last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [1] Revenue Breakdown - Equipment revenues are estimated to reach $5.03 billion, marking a 7.1% increase from the previous year [3] - Total service revenues are expected to be $18.57 billion, representing a 9.7% year-over-year increase [4] - Other revenues are projected at $245.29 million, showing a slight increase of 0.1% from the prior year [4] - Wholesale and other service revenues are anticipated to be $754.30 million, reflecting a 2.2% increase from the previous year [5] Customer Metrics - Total postpaid customer accounts are expected to reach 33.75 million, up from 30.89 million year-over-year [5] - Net customer additions for total postpaid customers are projected at 959.11 thousand, down from 1.03 million in the previous year [6] - Total High Speed Internet customers are estimated to be 8.38 million, an increase from 6.43 million year-over-year [6] - Total postpaid customers are expected to reach 115.39 million, compared to 104.12 million last year [8] - Prepaid customers are projected to be 25.86 million, slightly up from 25.41 million year-over-year [8] Market Performance - Over the past month, T-Mobile shares have returned +2%, while the Zacks S&P 500 composite has decreased by -1.5% [9]

Core Viewpoint - T-Mobile is strategically positioned in the Bay Area to ensure network performance during the Big Game, catering to the high demands of communication and coordination required for such large-scale events [1] Company Operations - T-Mobile has deployed engineering and support teams across critical locations in the Bay Area to enhance network speed, reliability, and capacity [1] - The company emphasizes its role in supporting first responders and public safety officials during major events [1] Industry Context - Events like the Big Game create unique challenges for communication networks, necessitating robust performance to meet the needs of attendees and emergency services [1]

Core Viewpoint - T-Mobile is participating in the Big Game for the 13th consecutive year, featuring the Backstreet Boys in its commercial to promote its wireless services and network advantages [1] Group 1: Marketing Strategy - The commercial highlights T-Mobile's position as having America's Best Network, emphasizing value and industry-leading benefits [1] - The advertisement includes appearances from notable figures such as Druski, mgk, and Pierson Fodé, aiming to enhance brand visibility and appeal [1] Group 2: Brand Messaging - T-Mobile's messaging focuses on customer preferences, stating that consumers want their wireless services delivered in a specific way, aligning with the Backstreet Boys' iconic song [1]

Core Viewpoint - T-Mobile is expected to report fourth-quarter 2025 results on February 11, with a history of earnings surprises indicating strong performance in previous quarters [1][9] Revenue Expectations - Year-over-year revenue growth is anticipated, driven by postpaid subscriber additions, strong 5G adoption, and increased demand for premium wireless and broadband services [2][12] - Total service revenues are estimated at $18.6 billion, up from $16.9 billion in the same quarter last year, while equipment revenues are projected at $5 billion compared to $4.7 billion a year ago [8][12] - The Zacks Consensus Estimate for total revenues is pegged at $23.6 billion, an increase from $21.9 billion reported in the previous year [9][12] Competitive Landscape - T-Mobile operates in a highly competitive U.S. wireless market, facing strong rivals like AT&T and Verizon, which may pressure pricing and limit growth [7] - The company maintains its leadership in the 5G market but faces rising capital and operating costs from network expansion and upgrades, potentially impacting margins [3] Innovations and Partnerships - The launch of Edge Control and T-Platform has strengthened T-Mobile's enterprise offerings, although the near-term revenue impact may be limited due to gradual adoption and high rollout costs [4] - T-Mobile's partnership with the Formula 1 Las Vegas Grand Prix has enhanced brand visibility, but immediate revenue impact is likely limited due to increased marketing and sponsorship costs [5] - The expansion of T-Satellite to power apps highlights T-Mobile's innovation, but short-term revenue gains are expected to be modest [6] Earnings Outlook - The adjusted earnings per share estimate is $2.11, indicating a decline from $2.57 reported a year ago [9] - The Earnings ESP for T-Mobile is -3.64%, suggesting that the model does not predict an earnings beat for the fourth quarter [10][11]

Core Insights - The chief of Verizon's consumer division, Sowmyanarayan Sampath, is resigning as the company embarks on a turnaround strategy under new CEO Dan Schulman [1] Company Developments - The leadership change comes as Verizon aims to improve its performance and adapt to market challenges [1] - Dan Schulman, the new CEO, is expected to implement strategies to enhance the company's competitive position in the wireless market [1]

Core Viewpoint - Verizon Wireless has filed a lawsuit against T-Mobile, alleging false advertising and claiming that T-Mobile's promises of over $1,000 in annual savings for consumers switching to their service have caused irreparable harm [1] Group 1: Legal Action - Verizon Wireless accuses T-Mobile of engaging in false advertising practices [1] - The lawsuit highlights the competitive tensions in the wireless industry, particularly between major players [1] Group 2: Financial Implications - T-Mobile's claims of significant savings for consumers are at the center of the dispute, with Verizon arguing that these claims are misleading [1] - The outcome of the lawsuit could have financial repercussions for T-Mobile if found liable for false advertising [1]

Core Thesis - Array Digital Infrastructure, Inc. (AD) presents a compelling investment opportunity as it monetizes its remaining assets following the sale of its wireless business to T-Mobile, with significant expected returns for shareholders [2][4]. Group 1: Financial Performance and Valuation - As of January 30th, AD's share was trading at $48.19, with trailing and forward P/E ratios of 22.14 and 76.34 respectively [1]. - Shareholders have already received a special dividend of $23 per share from the wireless sale, with additional spectrum sales expected to generate approximately $22 per share over the next eight months [2]. - The company has a projected EBITDA of approximately $70 million by 2027, with an implied 2027 EV/EBITDA multiple of around 5.2x, significantly lower than peer transactions [3][4]. Group 2: Asset Composition and Growth Potential - AD's assets include a portfolio of 4,400 towers, passive equity interests in Verizon and AT&T markets generating around $170 million in annual cash flow, and C-band spectrum, part of which has already been sold for over $2 billion [2]. - The tower business is currently under-monetized, with tenancy ratios of approximately 1.0x compared to about 2.5x at peers, but recent initiatives are driving rapid cash flow growth [3]. - C-band spectrum monetization could yield an additional approximately $18 per share in special dividends, enhancing the overall value proposition [3]. Group 3: Strategic Consolidation and Future Outlook - TDS, which owns about 82% of AD, is expected to use proceeds from special dividends to acquire remaining public shares and consolidate assets, including towers and spectrum [4]. - The anticipated spectrum sales, C-band monetization, and minority buyouts are expected to crystallize AD's sum-of-the-parts value, with a projected upside of more than 50% to $75 per share [4].

Core Insights - Verizon's new CEO Daniel Schulman announced a strategic shift towards a customer-focused approach to address the loss of wireless customers, resulting in the highest quarterly net subscriber additions since 2019 [1][9]. Subscriber Growth - In the latest quarter, Verizon added 1 million net subscribers, including 616,000 postpaid phone subscribers and 372,000 broadband net additions, which comprised 319,000 fixed wireless subscribers and 67,000 Fios households [5]. - Consumer revenue increased by 3.2% year over year to $28.14 billion, while service revenue rose by 0.9% [6]. Financial Performance - Overall revenue grew by 2% year over year to $36.4 billion, with service revenue slightly up by 0.1% to $28.2 billion and wireless equipment revenue increasing by 9.1% to $8.2 billion [5]. - Adjusted EPS decreased by 0.9% to $1.09, and EBITDA fell by 0.6% to $11.9 billion [6]. Future Projections - Verizon anticipates adding between 750,000 to 1 million postpaid phone subscribers in 2026, with mobility and broadband service revenue expected to rise by 2% to 3% [7]. - Adjusted EPS is projected to increase by 4% to 5%, reaching between $4.90 and $4.95 [7]. Shareholder Returns - The company announced a $25 billion buyback plan to be executed over the next three years, supported by a projected 7% increase in free cash flow to $21.5 billion [8]. - Verizon's dividend is considered secure, well-covered by free cash flow, and the buyback is expected to support its stock price [10]. Competitive Positioning - Verizon aims to stop the trend of losing customers to competitors, with impressive net additions in Q4 and opportunities for cross-selling and bundling following the acquisition of Frontier Communications [9]. - The stock trades at a forward P/E ratio of 9.2 based on 2026 earnings estimates, compared to 11.3 for AT&T, with a forward yield of 6.5%, making it an attractive dividend stock [10].

Core Viewpoint - Verizon is shifting its strategy away from profit-driven price increases to focus on subscriber growth and market share, which is seen as a positive move for investors [1][3][6]. Group 1: Subscriber Dynamics - Verizon has experienced a high churn rate and loss of market share due to continuous price hikes without corresponding value, leading to a net reduction in its wireless retail postpaid phone subscriber base in 2025 [2][3]. - Over the past three years, Verizon's churn rate increased by 0.25 percentage points, resulting in a loss of approximately 2.25 million net additions [4]. - The company aims to achieve between 750,000 and 1 million postpaid net phone additions this year, significantly higher than the previous year's performance [7]. Group 2: Pricing Strategy - Verizon implemented four price increases in 2025, but these did not provide sufficient value to customers, contributing to subscriber losses [5]. - The new CEO, Dan Schulman, emphasized that future price increases must be justified by the value they deliver, moving away from relying on empty price hikes for short-term revenue [6]. - While wireless revenue is expected to be flat this year due to past price increases, the company is laying the groundwork for long-term growth [7]. Group 3: Market Performance - Following the announcement of the new turnaround strategy, Verizon's stock surged by 11.83%, indicating investor confidence despite a weak wireless revenue forecast [8]. - The stock is currently trading at less than 10 times the average analyst estimate for 2026 earnings, suggesting a potential opportunity for investment as the company implements its growth strategy [9].

Core Insights - Verizon Communications reported fourth-quarter earnings and revenue that exceeded analyst expectations, leading to a more than 9% increase in shares intraday [1] Financial Performance - The company posted adjusted earnings per share of $1.09, surpassing consensus estimates of $1.06 [2] - Revenue reached $36.4 billion, exceeding expectations of $36.1 billion [2] - Wireless service revenue rose 1.1% year over year to $21.0 billion [3] - Wireless equipment revenue climbed 9.1% to $8.2 billion [3] Subscriber Growth - Verizon recorded its highest quarterly total mobility and broadband volumes since 2019, including 616,000 postpaid phone net additions [2] - Broadband subscriber additions totaled 372,000, which included 319,000 fixed wireless access customers and 67,000 Fios internet additions [3] Future Outlook - For 2026, Verizon projected adjusted earnings per share of $4.90 to $4.95, well above analyst consensus of $4.76 [4] - The company forecasted total retail postpaid phone net additions of 750,000 to 1.0 million [4] - Total mobility and broadband service revenue growth is expected to be between 2.0% to 3.0% [4]