Company News: Verizon (VZ) Posts Q1 Financials in Line With Analysts' Estimates

Market news

21 April 2016

Company News: Verizon (VZ) Posts Q1 Financials in Line With Analysts' Estimates

Verizon reported Q1 FY 2016 earnings of $1.06 per share (versus $1.02 in Q1 FY 2015), in-line with analysts' consensus of $1.06.

The company's quarterly revenues amounted to $32.171 bln (+0.6% y/y), generally in-line with consensus estimate of $32.481 bln.

Verizon reaffirmed guidance for FY 2016, projecting EPS of comparable to $3.99 in 2015 (versus analysts' consensus estimate of $3.97).

VZ fell to $50.45 (-2.51%) in pre-market trading.

Initial jobless claims decline to 247,000 in the week ending April 16

U.S.: Philadelphia Fed Manufacturing Survey, April -1.6 (forecast 8.9)

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