Verizon Communications Inc (VZ)

[cintrix]

Verizon Tops Revenue Views, Forecasts Low-Single-Digit EPS Growth

REINHARDT KRAUSE
7:52 AM ET

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Verizon Communications (VZ) said Tuesday that adjusted fourth-quarter earnings were 86 cents a share, flat vs. a year earlier and below expectations. Revenue rose 5% to $34 billion, topping consensus forecasts. Analysts expected Verizon to report earnings of 88 cents on sales of $33.25 billion for the period ended Dec. 31. Verizon said it added 647,000 postpaid phone subscribers in the December quarter.

Shares in the telecom services giant rose 1% to 53.98 in early trading on the stock market today. In Monday's session, shares rose nearly 3% to 53.46, a 12-month high, at the edge of a recent buy range.

For 2018, the Dow industrials component forecast that full-year consolidated revenues will grow at low-single-digit percentage rates. Excluding the impact from the new revenue recognition standard, Verizon said it is on track to achieve year-over-year wireless service revenue growth by the middle part of 2018.

Verizon said it expects low single-digit percentage growth in adjusted EPS, which includes the dilutive impacts from a full year of depreciation and amortization costs from 2017 acquisitions.

Shares of rival AT&T (T) rose a fraction in premarket trading.https://www.investors.com/news/technology/verizon-revenue-tops-views-forecasts-low-single-digit-eps-growth/?src=A00220&yptr=yahoo