Verizon Communications Inc (VZ) said before open Tuesday that it earned $1.08 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $35.1 billion, beating estimates by $550 million.
In the same quarter a year ago, the company earned $1.19 per share on revenue of $35.3 billion.
The stock is up 6.48% to $42.15 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 49. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Verizon is primarily a wireless business (nearly 80% of revenue and nearly all operating income). It serves about 93 million postpaid and 24 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 25 million homes and businesses, and nationwide enterprise services.
News Home
Verizon Communications Inc Up 6.48% To $42.15 After Earnings Meet
Mentioned in this article
