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Verizon Lowers Yearly Guidance Amid Disappointing Subscriber Growth – $VZ $DIA

By John F. Heerdink, Jr.

Reportedly, Verizon Communications, Inc. (VZ) reported June-quarter adjusted earnings that missed estimates as it added fewer postpaid wireless phone subscribers than expected. For the quarter, Verizon earnings came in at $1.31 a share, excluding items, and revenue increased 3% to $33.8 billion, beating estimates of $1.33 a share on revenue of $33.77 billion.

In the Verizon earnings report, Q2 wireless service revenue increased 9% to $18.4 billion versus analyst estimates of $18.39 billion. Further, Verizon said it added only 12,000 postpaid wireless phone subscribers versus analyst estimates for a 144,000 gain. In the year-earlier period, Verizon added 275,000 postpaid wireless phone customers.

The largest US wireless carrier forecast adjusted EPS in a range of $5.10 to $5.25, down from earlier guidance of $5.40 to $5.55. It also cut its outlook for wireless service revenue growth to a range of 8.5% to 9.5%, down from 9% to 10%.

Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers. To learn more about Verizon Communications, Inc. (VZ) and track its progress, please visit the Vista Partners Verizon Communications Inc. Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Verizon Stock Falls As Earnings Miss, 2022 Guidance Lowered in Investor's Business Daily)


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