Verizon Communications (VZ) Reports In-Line Q2 EPS, Beats on Revenues
Verizon Communications (NYSE: VZ) reported Q2 EPS of $0.96, in-line with the analyst estimate of $0.96. Revenue for the quarter came in at $30.55 billion versus the consensus estimate of $29.91 billion.
Outlook and forward-looking items
Verizon expects the following:
- Full-year 2017 consolidated revenues, on an organic basis, to be fairly consistent with 2016, with improvement in wireless service revenue and equipment revenue trends; also, full-year 2017 consolidated adjusted EPS trends to be similar to consolidated revenue trends;
- Consolidated capital spending for 2017 to be in the range of $16.8 billion to $17.5 billion; and
- The 2017 effective tax rate to be at the low end of the range of 34 percent to 36 percent, excluding impacts from potential tax reform.
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