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

Market news

21 October 2020

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

Verizon (VZ) reported Q3 FY 2020 earnings of $1.25 per share (versus $1.25 per share in Q3 FY 2019), beating analysts’ consensus estimate of $1.22 per share.

The company’s quarterly revenues amounted to $31.500 bln (-4.2% y/y), generally in line with analysts’ consensus estimate of $31.603 bln.

The company also issued raised guidance for FY 2020, projecting EPS of +0-2%, up from -2% to +2%, to $4.81-4.90 versus analysts’ consensus estimate of $4.77.

VZ rose to $57.93 (+1.19%) in pre-market trading.

Canada: Retail Sales ex Autos, m/m, August 0.5% (forecast 0.9%)

European session review: GBP strengthens, supported by upbeat comments on UK-EU trade deal by the block’s chief Brexit negotiator Barnier

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