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Compared to Estimates, Verizon (VZ) Q2 Earnings: A Look at Key Metrics
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Verizon Communications (VZ - Free Report) reported $32.8 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.6%. EPS of $1.15 for the same period compares to $1.21 a year ago.
The reported revenue represents a surprise of -0.75% over the Zacks Consensus Estimate of $33.04 billion. With the consensus EPS estimate being $1.14, the EPS surprise was +0.88%.
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 retail postpaid connections: 30,230 thousand versus the four-analyst average estimate of 30,218.99 thousand.
Consumer - Wireline - Net subscribers additions - Broadband: 13 thousand compared to the 29.5 thousand average estimate based on four analysts.
Consumer - Wireline - Net subscribers additions - Fios Internet: 24 thousand versus 42.81 thousand estimated by four analysts on average.
Consumer - Wireline - Net subscribers additions - Fios video: -65 thousand versus the four-analyst average estimate of -64.21 thousand.
Operating revenues- Consumer: $24.93 billion versus the five-analyst average estimate of $25.01 billion. The reported number represents a year-over-year change of +1.5%.
Operating revenues- Business: $7.30 billion compared to the $7.44 billion average estimate based on five analysts. The reported number represents a change of -2.5% year over year.
Operating revenues- Consumer - Service: $19.21 billion compared to the $19.26 billion average estimate based on five analysts. The reported number represents a change of +3% year over year.
Operating revenues- Consumer - Wireless equipment: $4.14 billion versus $4.24 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
Operating revenues- Consumer - Other: $1.58 billion versus the five-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +6%.
Operating revenue- Business - Business Markets and Other: $3.20 billion versus $3.19 billion estimated by five analysts on average.
Operating revenues- Business- Enterprise and Public Sector: $3.55 billion compared to the $3.67 billion average estimate based on five analysts. The reported number represents a change of -6.3% year over year.
Operating revenues- Business- Wholesale: $552 million versus $582.32 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
Shares of Verizon have returned +3.4% over the past month versus the Zacks S&P 500 composite's +0.4% 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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Compared to Estimates, Verizon (VZ) Q2 Earnings: A Look at Key Metrics
Verizon Communications (VZ - Free Report) reported $32.8 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.6%. EPS of $1.15 for the same period compares to $1.21 a year ago.
The reported revenue represents a surprise of -0.75% over the Zacks Consensus Estimate of $33.04 billion. With the consensus EPS estimate being $1.14, the EPS surprise was +0.88%.
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 retail postpaid connections: 30,230 thousand versus the four-analyst average estimate of 30,218.99 thousand.
- Consumer - Wireline - Net subscribers additions - Broadband: 13 thousand compared to the 29.5 thousand average estimate based on four analysts.
- Consumer - Wireline - Net subscribers additions - Fios Internet: 24 thousand versus 42.81 thousand estimated by four analysts on average.
- Consumer - Wireline - Net subscribers additions - Fios video: -65 thousand versus the four-analyst average estimate of -64.21 thousand.
- Operating revenues- Consumer: $24.93 billion versus the five-analyst average estimate of $25.01 billion. The reported number represents a year-over-year change of +1.5%.
- Operating revenues- Business: $7.30 billion compared to the $7.44 billion average estimate based on five analysts. The reported number represents a change of -2.5% year over year.
- Operating revenues- Consumer - Service: $19.21 billion compared to the $19.26 billion average estimate based on five analysts. The reported number represents a change of +3% year over year.
- Operating revenues- Consumer - Wireless equipment: $4.14 billion versus $4.24 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
- Operating revenues- Consumer - Other: $1.58 billion versus the five-analyst average estimate of $1.51 billion. The reported number represents a year-over-year change of +6%.
- Operating revenue- Business - Business Markets and Other: $3.20 billion versus $3.19 billion estimated by five analysts on average.
- Operating revenues- Business- Enterprise and Public Sector: $3.55 billion compared to the $3.67 billion average estimate based on five analysts. The reported number represents a change of -6.3% year over year.
- Operating revenues- Business- Wholesale: $552 million versus $582.32 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
View all Key Company Metrics for Verizon here>>>Shares of Verizon have returned +3.4% over the past month versus the Zacks S&P 500 composite's +0.4% 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.