Verizon Q2 2025 Earnings Miss: Shares Drop Below $40 Despite Subscriber Growth
Verizon's Q2 2025 earnings fell short of analyst expectations, causing shares to dip despite gains in phone and internet subscribers. Discover the latest revenue and profit trends, subscriber numbers, and full-year guidance updates from the telecom giant.
Highlights of Verizon's Q2 2024 Performance
- Verizon's shares declined over 5% after reporting earnings that missed Wall Street projections despite adding new phone and internet subscribers.
- Revenue showed marginal year-over-year growth, but net profit slightly decreased.
- The company reaffirmed its 2024 full-year outlook, expecting wireless revenue growth but lower adjusted earnings per share compared to 2023.
Verizon (NYSE: VZ) experienced a sharp share drop of more than 5% after the market opened Monday following its release of second-quarter financial results. Despite attracting more internet and mobile phone users, the earnings fell short of analyst estimates.
The company posted $32.8 billion in revenue for Q2 2024, reflecting under 1% growth compared to the same quarter last year, and missing the anticipated $33.06 billion. Net income declined to $4.7 billion from $4.77 billion in 2023, while forecasts predicted a rise to $4.84 billion.
Subscriber Growth and Service Expansion
Verizon added 148,000 retail postpaid phone subscribers, falling short of the 265,800 expected by analysts. However, broadband internet subscribers reached 11.5 million, marking a 17% increase year-over-year.
The company remains confident in meeting its full-year targets, projecting wireless service revenue growth between 2% and 3.5% compared to 2023. Adjusted earnings per share are forecasted between $4.50 and $4.70, slightly below last year's $4.71, but above analyst expectations of $4.59.
CEO Hans Vestberg stated, "We continue to build and expand on our strengths and successes with new products and services, and we are confident that this upward momentum will position us for future growth."
As of 9:42 a.m. ET Monday, Verizon shares traded at $39.22, down 5.5% for the day but up approximately 4% year-to-date in 2024.
Discover engaging topics and analytical content in Company News as of 27-07-2024. The article titled " Verizon Q2 2025 Earnings Miss: Shares Drop Below $40 Despite Subscriber Growth " 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 Q2 2025 Earnings Miss: Shares Drop Below $40 Despite Subscriber Growth " helps you make smarter decisions within the Company News category. All topics on our website are unique and offer valuable content for our audience.