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Verizon (VZ) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Verizon Communications (VZ - Free Report) reported $32.91 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 1.9%. EPS of $1.20 for the same period compares to $1.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $33.71 billion, representing a surprise of -2.36%. The company delivered an EPS surprise of +0.84%, with the consensus EPS estimate being $1.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Verizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Consumer - Wireless - Net subscribers additions - Retail postpaid phones: -263 thousand compared to the -260.81 thousand average estimate based on five analysts.
Consumer - Wireless total retail connections: 114523 thousand compared to the 114798.9 thousand average estimate based on four analysts.
Consumer - Fios video connections: 3160 thousand compared to the 3185.43 thousand average estimate based on four analysts.
Consumer - Fios Internet connections: 6803 thousand versus 6816.85 thousand estimated by four analysts on average.
Consumer - Wireless retail postpaid Connection: 92192 thousand versus the four-analyst average estimate of 91857.81 thousand.
Consumer - Wireless retail prepaid connections: 22331 thousand compared to the 22941.07 thousand average estimate based on four analysts.
Business - Churn rate - Wireless - Retail postpaid: 1.5% versus 1.36% estimated by four analysts on average.
Consumer - Wireless Retail postpaid ARPA: $130.06 versus the four-analyst average estimate of $128.65.
Operating revenues- Consumer: $24.86 billion versus $25.25 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.7% change.
Operating revenues- Consumer - Other: $1.52 billion versus the six-analyst average estimate of $1.64 billion.
Operating revenues- Consumer - Wireless equipment: $4.88 billion versus the six-analyst average estimate of $5.12 billion. The reported number represents a year-over-year change of -9.2%.
Operating revenues- Consumer - Service: $18.46 billion compared to the $18.51 billion average estimate based on six analysts. The reported number represents a change of +1.8% year over year.
Shares of Verizon have returned -2.5% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Verizon (VZ) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Verizon Communications (VZ - Free Report) reported $32.91 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 1.9%. EPS of $1.20 for the same period compares to $1.35 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $33.71 billion, representing a surprise of -2.36%. The company delivered an EPS surprise of +0.84%, with the consensus EPS estimate being $1.19.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Verizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Consumer - Wireless - Net subscribers additions - Retail postpaid phones: -263 thousand compared to the -260.81 thousand average estimate based on five analysts.
- Consumer - Wireless total retail connections: 114523 thousand compared to the 114798.9 thousand average estimate based on four analysts.
- Consumer - Fios video connections: 3160 thousand compared to the 3185.43 thousand average estimate based on four analysts.
- Consumer - Fios Internet connections: 6803 thousand versus 6816.85 thousand estimated by four analysts on average.
- Consumer - Wireless retail postpaid Connection: 92192 thousand versus the four-analyst average estimate of 91857.81 thousand.
- Consumer - Wireless retail prepaid connections: 22331 thousand compared to the 22941.07 thousand average estimate based on four analysts.
- Business - Churn rate - Wireless - Retail postpaid: 1.5% versus 1.36% estimated by four analysts on average.
- Consumer - Wireless Retail postpaid ARPA: $130.06 versus the four-analyst average estimate of $128.65.
- Operating revenues- Consumer: $24.86 billion versus $25.25 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.7% change.
- Operating revenues- Consumer - Other: $1.52 billion versus the six-analyst average estimate of $1.64 billion.
- Operating revenues- Consumer - Wireless equipment: $4.88 billion versus the six-analyst average estimate of $5.12 billion. The reported number represents a year-over-year change of -9.2%.
- Operating revenues- Consumer - Service: $18.46 billion compared to the $18.51 billion average estimate based on six analysts. The reported number represents a change of +1.8% year over year.
View all Key Company Metrics for Verizon here>>>Shares of Verizon have returned -2.5% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.