Verizon Communications (NYSE: VZ) reported Q4 EPS of $1.12, $0.03 better than the analyst estimate of $1.09. Revenue for the quarter came in at $34.3 billion versus the consensus estimate of $34.45 billion.

Consolidated:

• 47 cents in earnings per share (EPS), compared with $4.56 in 4Q 2017; adjusted EPS (non-GAAP), excluding special items, of $1.12, compared with 86 cents in 4Q 2017.

Wireless:

• 1.2 million retail postpaid net additions, including 653,000 phone net additions and 873,000 postpaid smartphone net additions.
• Retail postpaid churn of 1.08 percent, and retail postpaid phone churn of 0.82 percent.
• Service revenue growth of 1.9 percent year over year, excluding the impact of the revenue recognition standard adopted on Jan. 1, 2018.
• Total revenue growth of 2.1 percent year over year, excluding the impact of the revenue recognition standard, to $24.3 billion.

Wireline:

• 54,000 Fios Internet net additions; Fios total revenue growth of 2.9 percent year over year.

“Verizon finished 2018 by delivering solid financial and operational performance, as evidenced by our strong wireless service revenue and earnings growth,” said CEO Hans Vestberg. “2018 was a remarkable year full of 5G firsts, including being first in the world to commercially deploy 5G with our 5G Home product. As we head into 2019 and the 5G era, we’re beginning a period of transformational change. We are laser focused on delivering customers a best-in-class and game-changing experience on our networks.”

Outlook and guidance

For 2019, Verizon expects the following:

• Low single-digit percentage growth in full-year consolidated revenues on a GAAP reported basis.
• Adjusted EPS excluding the impact of the new lease accounting standard to be similar to 2018 adjusted EPS. The new lease accounting standard is expected to have an approximately 1 to 2 cent per quarter headwind impact on EPS for full-year 2019.
• The effective tax rate for full-year 2019 to be in the range of 24 to 26 percent.
• Cash taxes to be $2 billion to $3 billion higher than in 2018 due to benefits that were realized in 2018 that are not expected to repeat in 2019.
• Capital spending for 2019 to be in the range of $17 billion to $18 billion, including the expanded commercial launch of 5G.

For earnings history and earnings-related data on Verizon Communications (VZ) click here.