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Verizon missed revenue estimates but beat expectations on the bottom line. It still expects earnings to decline this year.
Verizon stock dipped after weak Q1 results. We break down the Q1 results to see what VZ did well and where it struggled. We also review the valuation and the outlook for the stock and share our perspective on whether it is worth buying on the dip or not.
Verizon Communications Inc. (NYSE:VZ) earlier reported a first-quarter earnings beat, though revenue missed the mark.
While the top- and bottom-line numbers for Verizon (VZ) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Driven by marginal improvement in revenues, Verizon (VZ) beats first-quarter 2024 earnings estimates.
Verizon Communications (VZ) on Monday reported first-quarter results that were roughly in line with analyst expectations, with the company also affirming its growth projections for fiscal 2024.
Verizon Communications Inc (NYSE:VZ, ETR:BAC) shares have slipped close to 1.5% after the telecom giant revealed it retained more customers than expected, while also beating Wall Street's profit estimates. Customers signed up to Verizion's post-paid phone contracts slipped by 68,000 in the last quarter, against analysts' expectations that the group would drop 100,000 customers.
Verizon Communications Inc (NYSE:VZ, ETR:BAC) shares moved higher before Monday's opening bell after the telecommunications provider lost fewer than expected wireless subscribers during the first quarter. During the period, it lost 68,000 monthly bill-paying wireless phone subscribers, below the 100,000 expected.
Verizon Communications (VZ) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.20 per share a year ago.
Verizon Communications (VZ) stock rose in premarket trading Monday following the release of a first-quarter earnings report that was roughly in line with analyst expectations, with the company also affirming its growth projections for fiscal 2024.