AT&T (NYSE: T) is expected to report Q3 earnings on Oct. 24. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict AT&T's revenues will increase 0.2% and EPS will wither -1.6%.

The average estimate for revenue is $31.53 billion. On the bottom line, the average EPS estimate is $0.60.

Revenue details
Last quarter, AT&T logged revenue of $31.58 billion. GAAP reported sales were 0.3% higher than the prior-year quarter's $31.50 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $0.66. GAAP EPS of $0.66 for Q2 were 10% higher than the prior-year quarter's $0.60 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 60.8%, 130 basis points better than the prior-year quarter. Operating margin was 21.6%, 200 basis points better than the prior-year quarter. Net margin was 12.4%, 100 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $127.00 billion. The average EPS estimate is $2.38.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 5,358 members out of 5,817 rating the stock outperform, and 459 members rating it underperform. Among 1,334 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,256 give AT&T a green thumbs-up, and 78 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AT&T is hold, with an average price target of $34.06.

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