Verizon Reports Mixed Q2 Earnings

Verizon Communications VZ reported second-quarter earnings of $1.23 per share, which beat the analyst consensus estimate of $1.20 by 2.5%. This is a 2.5% increase over earnings of $1.20 per share from the same period last year.

The company reported quarterly sales of $32.1 billion, which missed the analyst consensus estimate of $32.41 billion by 0.96%. This is a 0.32% decrease over sales of $32.203 billion the same period last year.

"Verizon finished strong in the first half of 2019 by delivering solid financial results while transforming the business under the new operating structure and advancing our leadership in 5G," said Verizon CEO Hans Vestberg. "Verizon made history this quarter by becoming the first carrier in the world to launch 5G mobility. We are focused on optimizing our next-generation networks and enhancing the customer experience while we head into the second half of the year with great momentum."

Verizon shares were trading up 1.3% at $55.99 in Thursday’s pre-market session. The stock has a 52-week high of $61.58 and a 52-week low of $51.43.

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