Verizon Communications: Q2 Earnings Insights

Shares of Verizon Communications VZ rose 1.7% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 16.10% year over year to $1.37, which beat the estimate of $1.29.

Revenue of $33,764,000,000 rose by 11.07% year over year, which beat the estimate of $32,680,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $5.25 and $5.35.

Details Of The Call

Date: Jul 21, 2021

Time: 08:30 AM

ET Webcast URL: https://www.verizon.com/about/investors/investor-calendar

Price Action

Company's 52-week high was at $61.95

52-week low: $53.83

Price action over last quarter: down 1.36%

Company Profile

Verizon is now primarily a wireless business (more than 70% of revenue and nearly all operating income). It serves about 91 million postpaid and 4 million prepaid phone customers and connects another 25 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier. The firm has agreed to acquire Tracfone, a wireless reseller that serves about 20 million prepaid customers in the U.S., from America Movil. 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%). Verizon Media Group, the online media and advertising firm formed with the acquisitions of AOL and Yahoo, provides the remainder of revenue.