Verizon Q1 2025 Earnings: Revenue Hits $32.98B, Net Income Beats Estimates
Discover Verizon's Q1 2025 financial performance with revenues reaching $32.98 billion and net income surpassing expectations. Learn about their growth projections and upcoming industry earnings.
Highlights from Verizon's Q1 2024 Earnings Report
- Verizon Communications delivered Q1 results closely aligned with analyst forecasts.
- The company's shares initially rose in premarket trading but experienced a decline after market open.
- Verizon's earnings launch a busy week for the telecom sector, with AT&T and T-Mobile set to report shortly.
On April 22, 2024, Verizon Communications (VZ) announced first-quarter financial results that met analyst expectations, reaffirming its growth outlook for fiscal year 2024.
The telecom leader reported total revenue of $32.98 billion, slightly below analyst consensus of $33.2 billion. Despite this, Verizon outperformed on profitability, with net income reaching $4.72 billion, exceeding estimates of $4.61 billion. Diluted earnings per share (EPS) stood at $1.09, meeting projections.
Following the earnings release, Verizon's shares saw a 2.2% decline to $39.60 by 10 a.m. ET.
CEO Hans Vestberg stated, "Our strong Q1 performance positions us well for success throughout 2024. We remain confident in achieving our financial targets and anticipate positive consumer postpaid phone net additions this year."
Revenue growth in consumer services, which encompasses wireless phone plans and broadband internet, was driven by pricing strategies and flexible plans, offsetting declines in equipment sales and phone upgrades.
Verizon confirmed its full-year guidance, targeting wireless revenue growth between 2% and 3.5%, and adjusted EPS ranging from $4.50 to $4.70.
Embracing technological innovation, Verizon plans to expand the integration of artificial intelligence (AI) across operations and customer service throughout 2024.
This earnings announcement kicks off a critical week for the telecommunications industry, with rivals AT&T and T-Mobile scheduled to report their results later this week.
Updated April 22, 2024: Share price details included.
Discover engaging topics and analytical content in Company News as of 27-04-2024. The article titled " Verizon Q1 2025 Earnings: Revenue Hits $32.98B, Net Income Beats Estimates " provides new insights and practical guidance in the Company News field. Each topic is meticulously analyzed to deliver actionable information to readers.
The topic " Verizon Q1 2025 Earnings: Revenue Hits $32.98B, Net Income Beats Estimates " helps you make smarter decisions within the Company News category. All topics on our website are unique and offer valuable content for our audience.