Verizon surprises analysts with significant increase in wireless accounts
- Verizon’s stock rockets as earnings show significant growth in wireless accounts
- 318,000 consumer wireless retail postpaid phone net additions in Q4
- Quarterly gross consumer postpaid phone additions rose 16.9% from a year before
- Verizon’s upside in subscriber growth resonates with investors, shares up 5%
- Verizon posts a net loss of $2.6 billion in Q4, impacted by noncash goodwill impairment charge
- Adjusted earnings per share of $1.08, revenue at $35.1 billion
Verizon Communications Inc. reported a turnaround in its business with strong growth in wireless accounts. The company added 318,000 consumer wireless retail postpaid phone net additions in the fourth quarter, surpassing analysts’ expectations. Quarterly gross consumer postpaid phone additions also saw a significant increase of 16.9% compared to the previous year. This positive performance has resonated with investors, leading to a 5% increase in Verizon’s stock. However, the company did report a net loss of $2.6 billion in the fourth quarter, primarily due to a noncash goodwill impairment charge. Adjusted earnings per share were $1.08, and revenue stood at $35.1 billion. Looking ahead, Verizon expects continued growth in wireless service revenue and adjusted earnings per share for the coming year.
Factuality Level: 7
Factuality Justification: The article provides specific data and metrics regarding Verizon’s subscriber growth and financial performance. It includes quotes from analysts and compares the company’s performance to previous periods. However, it lacks additional context or analysis to fully understand the significance of the numbers and the overall state of Verizon’s business.
Noise Level: 3
Noise Justification: The article provides relevant information about Verizon’s business turnaround, including key subscriber metrics and financials. It includes analyst expectations and compares them to the actual results. However, the article lacks in-depth analysis, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Verizon Communications Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Verizon Communications Inc. and its impact on the company’s subscriber metrics and financials. There is no mention of any extreme events.
Public Companies: Verizon Communications Inc. (VZ)
Key People:
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