Verizon tops Wall Street expectations

Verizon Communications Inc. (VZ) released their previous quarter financial results before the market open on Tuesday. The US telecommunication giant topped Wall Street analyst expectations on both revenue and earnings per share.

The company reported total revenue of $34.1 billion vs. $34.056 billion expected.

Earnings per share at $1.31 a share vs. $1.28 a share forecast.

“Verizon delivered another strong earnings performance this quarter,” Verizon Chief Financial Officer Matt Ellis said about the latest results.

Verizon Chairman and CEO Hans Vestberg commented on the past years results for the company and made predictions for the year ahead: “2021 was a transformational year for Verizon that will serve as a catalyst for us.”

“We delivered on all of our goals in 2021 and made great progress on our five paths of growth, finishing the year with strong operating and financial momentum. As we move into 2022, we have the necessary assets to realize our strategy that we laid out in 2019. We are laser focused on executing our 5G strategy and providing value to our customers, shareholders, employees, and society, as 2022 will be the most exciting year yet for Verizon,” he added.

Verizon Communications Inc. chart (Weekly)

Verizon share price little changed during the trading day on Tuesday, down by around 0.31%. The stock is down by around 9.63% in the past year at $52.84 a share.

Verizon Communications Inc. is the 45^th largest company in the world and with a total market cap of $220.99 billion.

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Sources: Verizon Communications Inc., TradingView, GO Markets MT5, CompaniesMarketCap