Verizon Communications Inc. surpassed analysts' expectations for its fourth-quarter financial results, driven by significant gains in both mobile phone and broadband subscriptions. The company added a substantial number of new customers across its various offerings, including Fios fiber and fixed wireless services.
Verizon Communications Inc. exceeded analysts' expectations in its fourth-quarter financial results, demonstrating strong growth in both mobile phone and broadband subscriptions. The company added 568,000 new monthly phone subscribers, surpassing the average estimate of 498,000. Operating revenue for the quarter reached $35.7 billion, exceeding the projected $35.3 billion. Adjusted earnings climbed to $1.10 per share, exceeding projections by a cent.
Broadband subscriptions also showed impressive growth, with Verizon adding 408,000 net broadband subscribers in the fourth quarter. This nearly doubled analysts' expectations of 227,000. Fios fiber customers increased by 51,000, while the company added 373,000 customers in its fixed wireless business. These positive results follow Verizon's strategic acquisitions in the fourth quarter. In September, Verizon agreed to acquire Frontier Communications for approximately $9.59 billion, aiming to expand its high-speed internet business. A month later, the company secured a deal to purchase spectrum licenses from US Cellular Corp. for $1 billion.Verizon's strong performance marks the beginning of fourth-quarter earnings reports from the major US telecom companies. AT&T Inc. is scheduled to report on January 27, followed by T-Mobile US Inc. on January 29. Investors and analysts will closely monitor these reports to assess the overall health and future prospects of the telecom industry
VERIZON EARNINGS SUBSCRIBERS BROADBAND TELECOM
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Delta Tops Estimates on Demand for Overseas, Business TravelDelta Air Lines Inc. beat Wall Street’s profit estimates for the final months of 2024, buoyed by gains in international and corporate travel. The company says it expects strong demand to continue into the new year.
Read more »
Walgreens Boots signals turnaround on track as it tops quarterly estimates, shares surgeExcluding items, Walgreens reported earnings of 51 cents per share in the first quarter, compared with analysts’ average estimate of 37 cents
Read more »
Lululemon Sales Forecast Tops EstimatesLululemon Athletica Inc. raised its fourth-quarter revenue forecast, exceeding market expectations and demonstrating its resilience against competitive pressures and a slowdown in consumer spending.
Read more »
Bank of America Tops Profit Estimates on Investment Banking Surge and Strong Loan GrowthBank of America reports fourth-quarter earnings that surpass analysts' expectations, driven by a significant increase in investment banking fees and robust net interest income. The bank also highlights strong growth in deposits and loans, signaling a positive outlook for the US economy.
Read more »
GE Aerospace Tops Profit Estimates, Plans $7 Billion BuybackGeneral Electric Co. exceeded Wall Street expectations for profit and sales in the final months of the year as the jet engine maker worked through supply-chain limitations and capitalized on a strong maintenance backlog.
Read more »
China's exports in December up 10.7%, beating estimates as higher US tariffs loomHONG KONG (AP) — China’s exports in December grew at a faster pace than expected, as factories rushed to fill orders to beat higher tariffs that U.S. President-elect Donald Trump has threatened to impose once he takes office. Exports rose 10.
Read more »