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Verizon (VZ) Beats Q1 Earnings Estimate, Misses on Revenues
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Verizon Communications Inc. (VZ - Free Report) is the largest telecom operator in the United States providing high-end wireless and wireline services to individuals, business enterprises and government agencies.
VZ is continuously investing in wireless and wireline fiber-optic networks as it plans to launch next-generation 5G wireless residential broadband services in three to five U.S. markets in 2018. The first commercial launch is scheduled in Sacramento, CA, in the second half of 2018. VZ has started conducting field trials for its upcoming 5G wireless network with partners. The company is looking at mobile hotspot and home-based fixed wireless for initial deployment of the next-generation 5G wireless networks in the country in 2018. A full phased 5G wireless network is likely to be offered in 2020.
However, the company’s wireline division is struggling with persistent losses in access lines owing to competitive pressure from voice-over-Internet protocol service providers and aggressive triple-play (voice, data, video) offerings by cable companies. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. In the last four trailing quarters, VZ has reported a negative average earnings surprise of 1.3%, missing estimates twice.
Currently, VZ has a Zacks Rank #3 (Hold), but that could definitely change following first-quarter 2018 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: VZ beats on earnings. VZ reported adjusted earnings of $1.17 per share, which exceeded the Zacks Consensus Estimate of $1.11.
Verizon Communications Inc. Price and EPS Surprise
Revenues: Quarterly non-GAAP revenues miss estimates. VZ recorded non-GAAP revenues of $29.9 billion, lower than the Zacks Consensus Estimate of $31,157 million.
Key Stats to Note: For full year 2018, VZ expects both GAAP revenues and adjusted earnings per share to increase by low single-digit percentage rates driven by expected savings from tax reform.
Stock Price: Share prices were up in pre-market trading at the time of writing largely driven by a healthy earnings beat.
Check back our full write up on this VZ earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Verizon (VZ) Beats Q1 Earnings Estimate, Misses on Revenues
Verizon Communications Inc. (VZ - Free Report) is the largest telecom operator in the United States providing high-end wireless and wireline services to individuals, business enterprises and government agencies.
VZ is continuously investing in wireless and wireline fiber-optic networks as it plans to launch next-generation 5G wireless residential broadband services in three to five U.S. markets in 2018. The first commercial launch is scheduled in Sacramento, CA, in the second half of 2018. VZ has started conducting field trials for its upcoming 5G wireless network with partners. The company is looking at mobile hotspot and home-based fixed wireless for initial deployment of the next-generation 5G wireless networks in the country in 2018. A full phased 5G wireless network is likely to be offered in 2020.
However, the company’s wireline division is struggling with persistent losses in access lines owing to competitive pressure from voice-over-Internet protocol service providers and aggressive triple-play (voice, data, video) offerings by cable companies. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. In the last four trailing quarters, VZ has reported a negative average earnings surprise of 1.3%, missing estimates twice.
Currently, VZ has a Zacks Rank #3 (Hold), but that could definitely change following first-quarter 2018 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: VZ beats on earnings. VZ reported adjusted earnings of $1.17 per share, which exceeded the Zacks Consensus Estimate of $1.11.
Verizon Communications Inc. Price and EPS Surprise
Verizon Communications Inc. Price and EPS Surprise | Verizon Communications Inc. Quote
Revenues: Quarterly non-GAAP revenues miss estimates. VZ recorded non-GAAP revenues of $29.9 billion, lower than the Zacks Consensus Estimate of $31,157 million.
Key Stats to Note: For full year 2018, VZ expects both GAAP revenues and adjusted earnings per share to increase by low single-digit percentage rates driven by expected savings from tax reform.
Stock Price: Share prices were up in pre-market trading at the time of writing largely driven by a healthy earnings beat.
Check back our full write up on this VZ earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>