Verizon Communications Inc (NYSE:VZ, XETRA:BAC) shares rose about 3% on Friday morning after the company reported second quarter results that beat Wall Street expectations for adjusted earnings and raised its full-year outlook, despite revenue coming in below forecasts. The company reported adjusted earnings per share of $1.30 for the quarter ended June 30, ahead of analyst estimates of $1.27 to $1.28.
Verizon Communications (VZ) came out with quarterly earnings of $1.3 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to earnings of $1.22 per share a year ago.
The wireless company beat subscriber expectations while pulling back on costly promotions.
Verizon raised its annual forecast for adjusted profit and free cash flow, as the network provider's latest unlimited 5G plans and rewards programs helped it add more wireless subscribers than expected in the June quarter.
CEO Dan Schulman has overseen sweeping job cuts since taking the helm in October.
VZ heads into Q2 earnings with FIFA-driven momentum and an attractive valuation, but 5G costs, competition and discounts threaten margins.
To say the 2026 FIFA World Cup final between Spain and Argentina is the most-anticipated sporting event of the year would be an understatement.
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Verizon Communications, the largest U.S. wireless carrier by subscriber count, is reportedly planning to cut about 3,000 jobs. Most of the job cuts are tied to a significant shift in the company's retail store operations.
The latest trading day saw Verizon Communications (VZ) settling at $43.88, representing a +2.45% change from its previous close.
Verizon (NYSE:VZ | VZ Price Prediction) is one of the most compelling income setups on the board right now, and the July 24 earnings report is the trigger that converts a +6% yielder into a +24% total-return story.
Recently, Zacks.com users have been paying close attention to Verizon (VZ). This makes it worthwhile to examine what the stock has in store.