Verizon Communications (VZ) Misses Q1 EPS by 1c

Verizon Communications (NYSE: VZ) reported Q1 EPS of $0.95, $0.01 worse than the analyst estimate of $0.96. Revenue for the quarter came in at $29.8 billion versus the consensus estimate of $30.57 billion.

• Consolidated: 84 cents in earnings per share (EPS) and adjusted EPS (non-GAAP) of 95 cents, excluding non-operational items, compared with EPS of $1.06 in 1Q 2016.
• Wireless: Retail postpaid churn of 1.15 percent, with strong customer loyalty demonstrated by retail postpaid phone churn of less than 0.90 percent for the eighth consecutive quarter; intra-quarter improvement in net additions following the launch of Verizon Unlimited.
• Wireline: Fios total revenue growth of 4.7 percent.

"Our first-quarter results again demonstrated that customers value a high-quality network experience," said Chairman and CEO Lowell McAdam. "To build on our loyal customer base and the third-party recognition we have received for network leadership, we extended our wireless and fiber network capabilities, began offering an unlimited pricing option and expanded our opportunities in new markets. We\'re executing on strategies to capture future growth and create long-term shareholder value."

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

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