Verizon: raises FY guidance after EPS beats estimates
(CercleFinance.com) - Verizon raised its annual guidance on Wednesday after reporting better-than-consensus Q3 earnings.
The company's net income for July-September rose 45% to 6.6 billion dollars, or 1.55 dollar per share, from 1.05 dollar a year earlier.
The consensus was looking for EPS of 1.36 dollar.
Revenues rose 4% to 32.9 billion, a tad short of the 33.2 billion dollars expected.
Mobile revenues rose 3.9% to 17.1 billion dollars, driven by 699,000 net new subscribers and a churn rate of just 0.94%.
For FY 2021, Verizon says that it now expects mobile growth to be around 4%, compared to a previous forecast range of 3.5% to 4%.
The telecoms group also said it expects FY EPS of 5.35 to 5.40 dollars, compared with a previous target range of 5.25 to 5.35 dollars.
The stock was up nearly 0.8% in pre-market trading.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The company's net income for July-September rose 45% to 6.6 billion dollars, or 1.55 dollar per share, from 1.05 dollar a year earlier.
The consensus was looking for EPS of 1.36 dollar.
Revenues rose 4% to 32.9 billion, a tad short of the 33.2 billion dollars expected.
Mobile revenues rose 3.9% to 17.1 billion dollars, driven by 699,000 net new subscribers and a churn rate of just 0.94%.
For FY 2021, Verizon says that it now expects mobile growth to be around 4%, compared to a previous forecast range of 3.5% to 4%.
The telecoms group also said it expects FY EPS of 5.35 to 5.40 dollars, compared with a previous target range of 5.25 to 5.35 dollars.
The stock was up nearly 0.8% in pre-market trading.
Copyright (c) 2021 CercleFinance.com. All rights reserved.