The stock of Verizon (VZ) is rising after the wireless internet provider posted stronger-than-expected quarterly financial results and raised its forward guidance.
Verizon reported earnings per share (EPS) of $1.28 U.S., which beat the $1.21 U.S. a share expected on Wall Street.
Revenue in what was the year’s first quarter totaled $34.4 billion U.S., matching the consensus expectation of analysts. Sales were up 2.9% from a year earlier.
Importantly, the company said that it added 55,000 net postpaid phone customers during Q1 of this year, its first increase since 2013. Wall Street was anticipating a net loss of 88,100.
Verizon also raised its forward guidance for the year, citing the success of its ongoing transformation strategy.
Management said that they now expect earnings of $4.95 U.S. to $4.99 U.S. a share for all of 2026. At the midpoint, that’s above the $4.90 U.S. a share that analysts had forecast.
VZ stock is down 20% over the past five years and trading at $46.38 U.S. per share.
Tech Insider
