Verizon Q2 Earnings: Wireless Revenue And Broadband Subs Gain Traction, Sales Fall Short Of Expectations
Portfolio Pulse from Anusuya Lahiri
Verizon Communications Inc (NYSE:VZ) reported Q2 earnings with a slight revenue miss but strong wireless and broadband subscriber growth. Sales increased by 0.6% to $32.8 billion, missing the $33.1 billion estimate. Adjusted EPS matched expectations at $1.15. Wireless service revenue grew by 3.5% to $19.8 billion, and broadband subscribers increased by 17.2% year over year. Despite these gains, VZ shares traded lower by 3.89% premarket.
July 22, 2024 | 12:45 pm
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POSITIVE IMPACT
Verizon's Q2 report mentioned offering a bundled plan that includes Disney's Hulu Max for an additional $10 per month, which could potentially drive subscriber growth for Disney.
The mention of Disney's Hulu Max in Verizon's bundled plan could positively impact Disney's subscriber growth, although the direct impact on Disney's stock price may be limited.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Verizon's Q2 report mentioned offering a bundled plan that includes Netflix for an additional $10 per month, which could potentially drive subscriber growth for Netflix.
The mention of Netflix in Verizon's bundled plan could positively impact Netflix's subscriber growth, although the direct impact on Netflix's stock price may be limited.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEGATIVE IMPACT
Verizon reported Q2 earnings with a slight revenue miss but strong wireless and broadband subscriber growth. Sales increased by 0.6% to $32.8 billion, missing the $33.1 billion estimate. Adjusted EPS matched expectations at $1.15. Despite these gains, VZ shares traded lower by 3.89% premarket.
Verizon's slight revenue miss and in-line EPS, despite strong wireless and broadband growth, led to a negative market reaction with shares down 3.89% premarket. Investors likely focused on the revenue miss and the mixed performance in business and consumer segments.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100