Recap: Verizon Communications Q1 Earnings

Shares of Verizon Communications VZ rose 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 3.97% over the past year to $1.31, which beat the estimate of $1.29.

Revenue of $32,867,000,000 higher by 3.98% from the same period last year, which beat the estimate of $32,460,000,000.

Guidance

Verizon said it sees FY21 adjusted EPS of $5.00-$5.15, versus analysts’ estimates of $5.08.

How To Listen To The Conference Call

Date: Apr 21, 2021

Time: 08:30 AM

ET Webcast URL: https://www.verizon.com/about/investors/first-quarter-2021-earnings

Recent Stock Performance

Company's 52-week high was at $61.95

Company's 52-week low was at $52.85

Price action over last quarter: Up 5.97%

Company Overview

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.