Reportedly, Verizon Communications, Inc. (VZ) added more-than-expected wireless subscribers that pay a monthly bill in the fourth quarter ending December 31 & is expecting a strong year ahead assisted by the increased adoption of 5G services. The telecom giant added 558,000 subscribers in the quarter, above the average estimate of 546,400. It further informed that a third of consumer wireless phone users now possess a 5G-capable device.
The company’s total operating revenue was $34.1 billion for the quarter, excluding the sale of Verizon Media, compared with estimates of $34.01 billion. Net income was $4.7 billion, higher marginally from a year earlier. The company earned $1.31 per share, beating estimates of $1.28.
Verizon noted that while wireless service revenue increased, revenue from legacy wireline products dropped. For 2022, Verizon expects adjusted EPS of $5.40 to $5.55, above analysts’ estimates of $5.39. The company forecasts wireless service revenue to grow between 9% and 10% in the year.
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.
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