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Verizon Communications Earnings Cheat Sheet
Results: Net income for the diversified communications systems rose to $1.82 billion (64 cents per share) vs. $1.61 billion (57 cents per share) in the same quarter a year earlier. This marks a rise of 13.4% from the year-earlier quarter.
Revenue: Rose 3.7% to $28.55 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Verizon Communications fell in line with the mean analyst estimate of 64 cents per share. Analysts were expecting revenue of $28.56 billion.
Quoting Management: “Verizon delivered another strong quarter of earnings growth and cash generation, and we remain on track to meet our financial objectives and produce solid double-digit earnings growth for the year,” said Lowell McAdam, Verizon chairman and CEO. “Verizon Wireless has once again demonstrated its industry leadership, combining strong revenue growth with record margins and high customer loyalty. We reported sequential improvement in second-quarter Wireline margins, and we expect to see that improving trend carry through in the second half of the year. We also look forward to the closing of strategic transactions and to the integration of process improvements that will set the stage for continued long-term profitable growth across all our business units.”
Revenue has increased for four quarters in a row. Revenue increased 4.6% to $28.24 billion in the first quarter. The figure rose 7.7% in the fourth quarter of the last fiscal year from the year earlier and climbed 5.4% in the third quarter of the last fiscal year from the year-ago quarter.
The company met estimates last quarter after topping forecasts in the previous quarter with net income of 59 cents versus a mean estimate of net income of 57 cents per share.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the third quarter has moved up from 65 cents a share to 66 cents over the last ninety days. Over the past three months, the average estimate for the fiscal year has climbed from $2.47 per to share to $2.50.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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