Verizon: subscriber numbers and forecasts reassuring

(CercleFinance.com) - On Tuesday, Verizon Communications reported better-than-expected guidance for 2024, after benefiting from favorable mobile subscriber momentum in the fourth quarter.


The US telecom operator said this morning that it had attracted some 449,000 net new mobile subscribers in the fourth quarter, compared with 217,000 in the same quarter of 2022.

This performance enabled it to report earnings per share excluding non-recurring items of $1.08 for the quarter, in line with consensus expectations.

Operating income came in at $35.1 billion, down a very slight 0.3% year-on-year, but well above the average analyst estimate of $34.5 billion.

For 2024, the group said it was targeting EPS of between $4.50 and $4.70, a mid-point of $4.65 above the $4.59 consensus hitherto established by Wall Street.

Verizon shares gained more than 4% on Tuesday morning in pre-market trading following this publication.

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