As Q3 earnings season begins, many investors will analyze stocks for future trades.

Following the release of third-quarter earnings on Thursday, AT&T shares surged over 10% as the company outperformed its Earnings estimates up over 11%.

Verizon’s shares fell to lows not seen in a decade after the company beat earnings estimates by a razor-thin 2.33% and lost subscribers on price hikes.

With inflationary pressures reducing US consumers’ purchasing power, wireless carriers like AT&T and T Mobile USA TMUS can steal customers from Verizon. After the recent earnings release, it’s clearer that AT&T could have an advantage over Verizon as a global recession looms.
Here’s how AT&T and Verizon fare.

Verizon Communications Inc. vz offers a dividend yield of 7.41%, or $2.61 per share annually using quarterly payments, and has an excellent track record of growing its dividends for 18 consecutive years. Verizon, after acquiring Tracfone, its nationwide network, serves approximately 93 million postpaid and 23 million prepaid phone customers, making it the largest US wireless carrier.

In the third quarter, Verizon reported 189,000 net losses in retail postpaid wireless phones attributed to migration fees and additional charges. Though Verizon beat consensus estimates and posted third-quarter revenue of $34.2 billion, up 4% year over year, the company still saw its price tag fall to decade lows.

Verizon also had net additions of 8,000 postpaid phones in the third quarter.

AT&T Inc. T offers a dividend yield of 6.57%, or $1.11 per share annually, makes quarterly payments, and has a mixed track record of growing its dividends. AT&T is the third largest US wireless carrier, connecting 68 million postpaid and 17 million prepaid phone customers.

AT&T beat consensus estimates for its third-quarter earnings, reporting $29.64 billion in revenue, with wireless service revenue up 5.6% and broadband revenue up 6.1%…