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Verizon Q2 Earnings Top Estimates – Reports Strong Postpaid Wireless Subscribers Growth

By John F. Heerdink, Jr.

Verizon Communications, Inc. (VZ) second-quarter earnings performed better than analyst’s estimates, reporting adjusted earnings per share of $1.37 and revenue climbing 11% to $33.8 billion for the quarter ending June 30.  Analysts had estimated Verizon earnings of $1.30 a share on revenue of $32.68 billion. Its wireless revenue increased about 6% to $16.9 billion slightly higher than analyst estimates of $16.8 billion.

The telecom giant added 275,000 postpaid wireless phone subscribers versus analyst estimates for a 165,000 gain. Its consumer unit revenue increased 11% to $23.5 billion. Business unit revenue rose 3.7% to $13.2 billion.

“Our strong first half performance and the momentum in our business gives us the confidence to raise our total wireless service revenue growth guidance to between 3.5% and 4% growth, an update from prior guidance of at least 3%. We are also raising our adjusted EPS guidance to the range of $5.25 to $5.35, an update from prior guidance of $5 to $5.15,” stated Chief Financial Officer Matt Ellis.

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 to track its progress please visit the Vista Partners Verizon Communications Inc. Coverage Page.

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(Read Original Story: Verizon Stock Rises As Earnings, Revenue, Wireless Subscriber Adds Top Estimates in Investor's Business Daily)


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