Recap: Verizon Communications Q4 Earnings

Shares of Verizon Communications VZ decreased 0.2% in pre-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share rose 7.08% over the past year to $1.21, which beat the estimate of $1.17.

Revenue of $34,692,000,000 declined by 0.24% year over year, which beat the estimate of $34,430,000,000.

Outlook

Verizon said it sees FY21 adjusted EPS of $5.00-$5.15.

How To Listen To The Conference Call

Date: Jan 26, 2021

Time: 08:30 AM

ET Webcast URL: https://www.verizon.com/about/investors/fourth-quarter-2020-earnings

Recent Stock Performance

Company's 52-week high was at $61.95

Company's 52-week low was at $48.84

Price action over last quarter: Up 1.71%

Company Description

Verizon is now primarily a wireless business (70% of revenue and nearly all operating income). It serves about 89 million postpaid and 4 million prepaid phone customers and connects another 24 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks (12% of revenue) in the Northeast, which reach about 25 million homes and businesses, and nationwide enterprise services (10%). Recent investments, including fiber network construction, have supported the wireless business in addition to expanding traditional fixed-line capabilities. Verizon Media Group, the online media and advertising firm formed with the acquisitions of AOL and Yahoo, provides the remainder of revenue.