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Verizon (VZ) Reports Q2 Earnings: What Key Metrics Have to Say
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Verizon Communications (VZ - Free Report) reported $32.6 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.5%. EPS of $1.21 for the same period compares to $1.31 a year ago.
The reported revenue represents a surprise of -2.38% over the Zacks Consensus Estimate of $33.39 billion. With the consensus EPS estimate being $1.17, the EPS surprise was +3.42%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Verizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Business - Wireless - Net subscribers additions - Retail postpaid phones: 144 thousand versus 158.2 thousand estimated by five analysts on average.
Business - Churn rate - Wireless - Retail postpaid: 1.48% compared to the 1.43% average estimate based on five analysts.
Consumer - Fios video connections: 3091 thousand versus 3108.95 thousand estimated by four analysts on average.
Consumer - Fios Internet connections: 6854 thousand versus 6834.41 thousand estimated by four analysts on average.
Operating revenues- Consumer: $24.56 billion versus the six-analyst average estimate of $25.24 billion. The reported number represents a year-over-year change of -4.1%.
Operating revenues- Consumer - Other: $1.49 billion versus $1.60 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -14.9% change.
Operating revenues- Consumer - Wireless equipment: $4.43 billion versus the six-analyst average estimate of $5.18 billion. The reported number represents a year-over-year change of -22.4%.
Operating revenues- Consumer - Service: $18.64 billion versus the six-analyst average estimate of $18.46 billion. The reported number represents a year-over-year change of +2.7%.
Operating revenues- Business: $7.48 billion versus the six-analyst average estimate of $7.53 billion. The reported number represents a year-over-year change of -1.9%.
Operating revenues- Business- Wholesale: $590 million versus $621.42 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
Wireless service revenue- Business: $3.35 billion versus the five-analyst average estimate of $3.32 billion. The reported number represents a year-over-year change of +5.3%.
Wireless service revenue- Consumer: $15.76 billion versus $15.72 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
Shares of Verizon have returned -5.9% over the past month versus the Zacks S&P 500 composite's +4.9% 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) Reports Q2 Earnings: What Key Metrics Have to Say
Verizon Communications (VZ - Free Report) reported $32.6 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 3.5%. EPS of $1.21 for the same period compares to $1.31 a year ago.
The reported revenue represents a surprise of -2.38% over the Zacks Consensus Estimate of $33.39 billion. With the consensus EPS estimate being $1.17, the EPS surprise was +3.42%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Verizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Business - Wireless - Net subscribers additions - Retail postpaid phones: 144 thousand versus 158.2 thousand estimated by five analysts on average.
- Business - Churn rate - Wireless - Retail postpaid: 1.48% compared to the 1.43% average estimate based on five analysts.
- Consumer - Fios video connections: 3091 thousand versus 3108.95 thousand estimated by four analysts on average.
- Consumer - Fios Internet connections: 6854 thousand versus 6834.41 thousand estimated by four analysts on average.
- Operating revenues- Consumer: $24.56 billion versus the six-analyst average estimate of $25.24 billion. The reported number represents a year-over-year change of -4.1%.
- Operating revenues- Consumer - Other: $1.49 billion versus $1.60 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -14.9% change.
- Operating revenues- Consumer - Wireless equipment: $4.43 billion versus the six-analyst average estimate of $5.18 billion. The reported number represents a year-over-year change of -22.4%.
- Operating revenues- Consumer - Service: $18.64 billion versus the six-analyst average estimate of $18.46 billion. The reported number represents a year-over-year change of +2.7%.
- Operating revenues- Business: $7.48 billion versus the six-analyst average estimate of $7.53 billion. The reported number represents a year-over-year change of -1.9%.
- Operating revenues- Business- Wholesale: $590 million versus $621.42 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.2% change.
- Wireless service revenue- Business: $3.35 billion versus the five-analyst average estimate of $3.32 billion. The reported number represents a year-over-year change of +5.3%.
- Wireless service revenue- Consumer: $15.76 billion versus $15.72 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
View all Key Company Metrics for Verizon here>>>Shares of Verizon have returned -5.9% over the past month versus the Zacks S&P 500 composite's +4.9% 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.