Verizon Issues Outlook; Q4 Profit Misses Estimates - Quick Facts

(RTTNews) - Verizon Communications Inc. (VZ) expects fiscal 2020 adjusted EPS growth in a range of 2 to 4 percent. The company targets low-to-mid single-digit percentage growth in consolidated revenues from 2019.

Fourth-quarter adjusted EPS was $1.13, compared to $1.12, a year ago. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter consolidated operating revenues were $34.8 billion, up 1.4 percent from last year. Analysts expected revenue of $34.6 billion for the quarter.

Fourth-quarter wireless total revenue increased 3.5 percent year over year to $25.3 billion, driven by a 2.7 percent increase in service revenue. Retail postpaid net additions were 1.2 million, including 790,000 phone net additions, for the quarter. Wireline total revenue was $7.1 billion, a decrease of 4.1 percent.

Full year 2019 adjusted EPS was $4.81, compared to $4.71, prior year. Full-year 2019 consolidated operating revenues were $131.9 billion, up 0.8 percent year over year.