Verizon Q1 surpasses analysts' expectations with earnings per share of $ 1.22 – TechCrunch



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Verizon has just released its first quarter earnings report, with earnings per share well above analysts' expectations, while revenue was in line with expectations.

The company reported EPS of $ 1.22 per share (or $ 1.20 after adjustment to exclude a 2-cent benefit resulting from a pension revaluation triggered by its recent voluntary lay-off program) and the 39, a turnover of 32.1 billion USD, up 1.1% year on year. Analysts had predicted a $ 1.17 EPS and a $ 32.15 billion business figure.

Verizon also recorded 61,000 net additions to its postpaid wireless business, including 174,000 net postpaid additions.

The Verizon Media division (which owns TechCrunch) reported revenue of $ 1.8 billion, down 7.2% from the previous year. The company attributes this drop to the drop in revenue from office ads.

The report comes as Verizon begins its 5G deployment in Chicago and Minneapolis, the company claiming that the construction of the 5G network was part of its capital expenditure of $ 4.3 billion.

"2019 announces it as an exciting year for Verizon," said Hans Vestberg, chairman and chief executive officer. in a report. "We are leading the world in the development of new technologies with the launch of our 5G Ultra Wideband network. Our ambition remains unchanged to provide the most advanced new generation networks in the world. "

At 8:00 am Eastern Time, Verizon shares rose 0.72% in pre-market trading.

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