Verizon's Q4 Performance Shines: Substantial Wireless Gains Boost Stock
Portfolio Pulse from Anusuya Lahiri
Verizon Communications Inc (NYSE:VZ) reported Q4 FY23 results with a slight sales decline but beat consensus estimates on both revenue and adjusted EPS. Wireless service revenue grew, driven by TracFone ownership, a premium Unlimited strategy, and pricing actions. The company saw significant postpaid phone and broadband net additions, with the consumer segment showing improved EBITDA margin. Verizon's FY24 outlook projects wireless service revenue growth and an adjusted EPS in line with consensus estimates. VZ shares rose 3.46% in premarket trading.
January 23, 2024 | 2:26 pm
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POSITIVE IMPACT
Verizon's Q4 results surpassed expectations with a minor sales decline but higher adjusted EPS. Growth in wireless service revenue and subscriber additions, along with a positive FY24 outlook, contributed to a premarket stock price increase.
Verizon's Q4 performance, which exceeded consensus estimates, along with the announcement of a positive FY24 outlook, is likely to instill investor confidence and contribute to a short-term positive impact on the stock price. The premarket increase of 3.46% indicates a strong positive reaction from the market.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100