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Portfolio Update

A Big Deal and Third-Quarter Earnings

By Roger S. Conrad, on Oct. 26, 2016

AT&T (NYSE: T) and Verizon Communications (NYSE: VZ) have emerged as two of the biggest players in the US telecom market, a status achieved through hundreds of billions of dollars’ worth of acquisitions and capital expenditures over the past two decades. Competitors such as Sprint Corp (NYSE: S) and T-Mobile US (NSDQ: TMUS) haven’t been able to keep pace.

To varying degrees, the two juggernauts appear to be following Comcast Corp’s (NSDQ: CMCSA) playbook of marrying its broadband network to high-profile content via the acquisitions of Hulu, NBCUniversal, Dreamworks Animation and other properties.

These investments have helped Comcast to deliver double-digit earnings and dividend growth consistently, despite customer attrition in its core cable television business.

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