Verizon Communications Inc. (NYSE:VZ) reported better-than-expected second-quarter financial results and raised guidance on Monday.
Verizon posted adjusted earnings of $1.22 per share, beating market estimates of $1.19 per share. The company’s quarterly sales came in at $34.50 billion beating expectations of $33.57 billion.
Total Verizon Business revenues were $7.3 billion, down 0.3% Y/Y. Total Verizon Consumer revenue rose by 6.9% Y/Y to $26.6 billion. Consumer wireless retail postpaid churn was 1.12%, and wireless retail postpaid phone churn was 0.90%.
For FY25, Verizon reiterated a 2.0%-2.8% growth in wireless service revenue. It narrowed its adjusted EPS outlook from $4.59-$4.73 to $4.64-$4.73 versus the consensus of $4.68, driven by demand for its higher-tier plans as per the Reuters report.
Verizon shares gained 4% to close at $42.49 on Monday.
These analysts made changes to their price targets on Verizon following earnings announcement.
- JP Morgan analyst Philip Cusick maintained Verizon with a Neutral and raised the price target from $47 to $49.
- Morgan Stanley analyst Benjamin Swinburne maintained the stock with an Equal-Weight rating and raised the price target from $47 to $48.
Considering buying VZ stock? Here’s what analysts think:
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