Verizon Q2 Earnings: EPS Beat, Consumer EBITDA Margin Improvement and More
Portfolio Pulse from Anusuya Lahiri
Verizon Communications Inc reported Q2 FY23 results, with a sales decline of 3.5% YoY to $32.6 billion, missing the consensus of $33.3 billion. However, its adjusted EPS of $1.21 beat the consensus of $1.16. The company saw a 3.8% YoY increase in total wireless service revenue to $19.1 billion, attributed to its ownership of TracFone, premium Unlimited strategy, and pricing actions. Verizon reiterated its FY23 wireless service revenue growth outlook of 2.5% - 4.5% and its adjusted EPS outlook of $4.55 - $4.85.
July 25, 2023 | 12:21 pm
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Verizon's Q2 FY23 results showed a sales decline but beat on EPS. The company's total wireless service revenue increased, and it reiterated its FY23 outlook.
Despite a sales decline, Verizon beat EPS estimates and saw an increase in total wireless service revenue. This, along with the reiteration of its FY23 outlook, likely contributed to the positive market reaction, leading to a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100