Verizon: quarterly profit increases 25%

(CercleFinance.com) - On Wednesday Verizon reported a 25% increase in quarterly profit thanks to growth in its cell phone business, amid the launch of 5G.


The US telecom operator this morning reported a profit of 5.4 billion dollars, or 1.27 dollar per share, for the first three months of the year, up 26% from the 4.3 billion dollars (exactly 1 dollar per share) a year earlier.

Revenues increased by 4% to 32.9 billion dollars, up 17.9% from 27.91 billion dollars the previous year.

Excluding exceptional items, Verizon posted quarterly EPS of 1.31 dollar, just above the consensus of 1.29 dollar.

Verizon says it lost some 26,000 individual subscribers in the first quarter, including 225,000 in telephony.

The group nevertheless says it has gained customers with its "Fios" offer of very high speed broadband via fiber to the home, which offers triple-play voice, Internet and TV services.

For 2021, Verizon is aiming for at least 2% revenue growth, including over 3% growth in wireless services.



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