Verizon outperforms earnings expectations — and the stock climbs
This story incorporates reporting from Benzinga.com, Barron’s on MSN.com and MarketWatch on MSN.com.
Verizon’s stock price rose following the release of their latest earnings report, which outperformed analysts’ expectations. The company’s Q4 results showed a notable increase in mobile and broadband subscriptions, with postpaid phone net additions reaching 568,000, up from 449,000 the previous year. Additionally, total broadband net additions hit 408,000, compared to 350,000 a year earlier.
Consumer revenue saw a 2.2% year-over-year increase, amounting to $27.6 billion, while Verizon Business revenues slightly declined by 1.5% to $7.5 billion. However, an impressive growth in free cash flow to $19.8 billion from $18.7 billion last year supported positive market sentiment.
Price adjustments for Verizon’s services played a crucial role in driving revenue growth, offsetting the dip in business segment revenues. The strategic moves demonstrate Verizon’s continued ability to capitalize on its extensive network infrastructure and customer base while adapting to evolving market conditions. This strong financial performance underscores the company’s resilience amid shifting consumer demands.
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