Verizon Communications: Q1 Earnings Insights

Shares of Verizon Communications VZ fell 0.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 5.00% over the past year to $1.26, which beat the estimate of $1.23.

Revenue of $31,610,000,000 lower by 1.61% from the same period last year, which missed the estimate of $32,440,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Verizon Communications hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Apr 24, 2020

Time: 09:02 AM ET

Webcast URL: https://www.verizon.com/about/investors/first-quarter-2020-earnings

Price Action

52-week high: $62.22

Company's 52-week low was at $48.84

Price action over last quarter: down 3.10%

Company Profile

Verizon is now primarily a wireless business (70% of revenue and nearly all operating income). It serves about 89 million postpaid and 4 million prepaid phone customers and connects another 24 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks (12% of revenue) in the Northeast, which reach about 25 million homes and businesses, and nationwide enterprise services (10%). Recent investments, including fiber network construction, have supported the wireless business in addition to expanding traditional fixed-line capabilities. Verizon Media Group, the online media and advertising firm formed with the acquisitions of AOL and Yahoo, provides the remainder of revenue.