Company News: Verizon (VZ) quarterly earnings beat analysts’ forecast

Market news

24 April 2020

Company News: Verizon (VZ) quarterly earnings beat analysts’ forecast

Verizon (VZ) reported Q1 FY 2020 earnings of $1.26 per share (versus $1.20 per share in Q1 FY 2019), beating analysts' consensus estimate of $1.22 per share.

The company's quarterly revenues amounted to $31.810 bln (-1.0% y/y), missing analysts' consensus estimate of $32.366 bln.

The company also issued in-line guidance for FY 2020, projecting EPS of -2%-2%, down from +2-4% prior, to $4.71-4.91 versus analysts' consensus estimate of $4.85.

VZ rose to $57.99 (+0.69%) in pre-market trading.

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