In This Article:
Aaron M. Sprecher / Getty Images
Verizon Communications (VZ) reported better-than-expected fourth-quarter results Friday morning as the number of wireless subscribers rose.
Verizon reported consolidated net income of $5.11 billion, or $1.18 per share, on $35.68 billion in revenue. Analysts polled by Visible Alpha expected profit of $4.74 billion, or $1.09 per share, on $35.36 billion in revenue.
In the year-ago quarter, Verizon recorded a net loss of $0.64 per share because of a $7.8 billion loss on special items, including a $5.8 billion goodwill impairment charge in its business division. However, the company posted an adjusted profit of $1.08 per share, and its Q4 adjusted EPS rose slightly to $1.10 this year, in line with expectations.
Verizon added a net 568,000 wireless and 408,000 broadband customers in Q4. A year ago, it added 449,000 and 413,000 subscribers, respectively.
For 2025, Verizon projects its wireless service revenue to grow by 2% to 2.8%, with adjusted EPS seen flat or up to 3% from this year's $4.59 per share.
"It’s only going to get better this year and beyond, as we have continued to strengthen Verizon with the pending Frontier acquisition, new satellite partnerships, and ongoing AI enablement, which we expect will enhance and broaden our network for everybody we serve," Verizon CEO Hans Vestberg said.
Rivals AT&T (T) and T-Mobile US (TMUS) are expected to report fourth-quarter earnings next Monday and Wednesday, respectively.
Verizon shares, which entered the day down about 5% over the past 12 months, were up about 2% shortly after markets opened.
UPDATE—This article has been updated with the latest share price information.
Read the original article on Investopedia