Verizon Communications (VZ) stock pops after Q2 profit beat

Verizon Communications (NYSE: VZ) reported stronger-than-expected profit numbers for its second quarter, sending its shares about 2.5% higher in pre-open Tuesday.

The company reported a profit per share of $1.21, better than the analyst estimate of $1.17. Revenue came in at $32.6 billion, missing the consensus estimate of $33.35B.

"In the second quarter, we showed progress in our key priorities of growing wireless service revenue, delivering healthy consolidated adjusted EBITDA, and increasing free cash flow," said Chairman and CEO Hans Vestberg.

"We look forward to extending our network leadership in the second half of the year by continuing our rapid C-Band deployment as we are laser focused on providing value to our customers. The steps that we have taken to improve our operational performance are working, and we are confident that we will achieve our financial targets for the full year."

The company sees full-year wireless service revenue growth of 2.5-4.5%. Verizon reaffirmed its full-year forecast for EPS of $4.70, while the analysts were expecting $4.67.

The company still sees capital expenditure of $18.25-19.25B, ahead of the estimate of $18.82B.

By Senad Karaahmetovic

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