Verizon ($VZ) Spike 2.5% in Premarket Trading on Earnings Report
On Monday, Verizon Communications (
VZ) released its first-quarter earnings report. The report indicated a 4% decline in earnings from the previous year, although the earnings still surpassed Wall Street's expectations. Verizon's stock price reacted positively due to the wireless service revenue exceeding expectations.
The adjusted earnings per share for the quarter ending on March 31 were $1.15, while revenue for Verizon (VZ) was $33 billion, reflecting a 0.2% increase from the previous year's revenue of $32.9 billion. The estimated earnings per share and revenue were $1.12 and $33.2 billion, respectively.
Verizon's wireless service revenue rose by 3.3% to $19.5 billion, exceeding the estimated $18.67 billion. The company was able to achieve this despite Q1 being a typically weak season by raising prices for wireless services.
Verizon (VZ) lost 68,000 postpaid phone customers in the quarter, a metric closely watched by investors. However, this number was lower than the predicted loss of 92,000 subscribers, resulting in a positive market response. In Q1, Verizon (VZ) lost 158,000 postpaid consumer subscribers but added 90,000 business postpaid subscribers. In comparison, the company had lost 127,000 postpaid phone subscribers in the previous year.
Verizon (VZ) is presently focusing on generating growth in free cash flow and earnings before interest, taxes, depreciation, and amortization.
Verizon's stock rose by 2.6% to 41.55m on the stock market, indicating a move back above the 50-day line. The company had gained over 7% in 2024 before the earnings report, after experiencing a 4% decline in the previous year.
Verizon Communications (VZ) stated on Monday that it had lost fewer wireless subscribers in Q1 than anticipated, owing to its flexible plans and streaming bundles offering discounted pricing for services such as Netflix and Warner Bros Discovery's Max. Verizon's shares rose by 2.5% in pre-market trading.
Verizon's consumer business saw its best Q1 performance since 2018, with 158,000 wireless retail postpaid phone net losses compared with 263,000 losses a year ago. CEO Hans Vestberg stated, "We are on track to meet our financial guidance and to deliver positive consumer postpaid phone net adds for the year."
Verizon's plans are usually more expensive than those of its rivals, AT&T (T.N) and T-Mobile (TMUS.O), which are set to report earnings later in the week.
VZ) released its first-quarter earnings report. The report indicated a 4% decline in earnings from the previous year, although the earnings still surpassed Wall Street's expectations. Verizon's stock price reacted positively due to the wireless service revenue exceeding expectations.The adjusted earnings per share for the quarter ending on March 31 were $1.15, while revenue for Verizon (
VZ) was $33 billion, reflecting a 0.2% increase from the previous year's revenue of $32.9 billion. The estimated earnings per share and revenue were $1.12 and $33.2 billion, respectively.Verizon's wireless service revenue rose by 3.3% to $19.5 billion, exceeding the estimated $18.67 billion. The company was able to achieve this despite Q1 being a typically weak season by raising prices for wireless services.
Verizon (
VZ) lost 68,000 postpaid phone customers in the quarter, a metric closely watched by investors. However, this number was lower than the predicted loss of 92,000 subscribers, resulting in a positive market response. In Q1, Verizon (VZ) lost 158,000 postpaid consumer subscribers but added 90,000 business postpaid subscribers. In comparison, the company had lost 127,000 postpaid phone subscribers in the previous year.Verizon (
VZ) is presently focusing on generating growth in free cash flow and earnings before interest, taxes, depreciation, and amortization.Verizon's stock rose by 2.6% to 41.55m on the stock market, indicating a move back above the 50-day line. The company had gained over 7% in 2024 before the earnings report, after experiencing a 4% decline in the previous year.
Verizon Communications (
VZ) stated on Monday that it had lost fewer wireless subscribers in Q1 than anticipated, owing to its flexible plans and streaming bundles offering discounted pricing for services such as Netflix and Warner Bros Discovery's Max. Verizon's shares rose by 2.5% in pre-market trading.Verizon's consumer business saw its best Q1 performance since 2018, with 158,000 wireless retail postpaid phone net losses compared with 263,000 losses a year ago. CEO Hans Vestberg stated, "We are on track to meet our financial guidance and to deliver positive consumer postpaid phone net adds for the year."
Verizon's plans are usually more expensive than those of its rivals, AT&T (T.N) and T-Mobile (TMUS.O), which are set to report earnings later in the week.
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