Verizon Earnings: Dials Past Wall Street Revenue Expectation
Verizon Communications Inc. (NYSE:VZ) had a loss and missed Wall Street’s profit expectation, BUT beat the revenue expectation. Shares are down .38%.
Verizon Communications Inc. Earnings Cheat Sheet
Results: Net loss increased to $4.23 billion (or a loss of 1.48 cents per share) in the quarter versus a net loss of $2.02 billion in the year-earlier quarter.
Revenue: Rose 5.68% to $30.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Verizon Communications Inc. reported adjusted net income of 38 cents per share. By that measure, the company missed the mean analyst estimate of $0.5. It beat the average revenue estimate of $29.83 billion.
Quoting Management: “Verizon seized growth opportunities in the fourth quarter to cap a year of solid progress across the entire business,” said Lowell McAdam, Verizon chairman and CEO…