Verizon Communications (VZ) Misses Q4 EPS by 3c

Verizon Communications (NYSE: VZ) reported Q4 EPS of $0.86, $0.03 worse than the analyst estimate of $0.89. Revenue for the quarter came in at $32.3 billion versus the consensus estimate of $32.09 billion.

• Consolidated: $1.10 in earnings per share (EPS); adjusted EPS (non-GAAP) of 86 cents, excluding non-operational items related to mark-to-market pension and benefits adjustments and severance-related costs.
• Wireless: 591,000 retail postpaid net additions, including 552,000 new 4G LTE smartphones; retail postpaid churn at 1.10 percent, with strong customer loyalty demonstrated by retail postpaid phone churn of less than 0.90 percent for the seventh consecutive quarter.
• Wireline: 68,000 Fios Internet net additions, 21,000 Fios Video net additions; Fios total revenue growth of 4.4 percent.

"We are positioning Verizon for future growth and continued sustainable shareholder value," said Chairman and CEO Lowell McAdam. "In the fourth quarter we expanded our customer base in highly competitive wireless and broadband markets. This capped a year in which we delivered solid results and returned value to shareholders, including $9.3 billion in dividends. We enter 2017 with confidence, based on our investments in next-generation networks and the new capabilities we have acquired. Our goal is to continue to earn our customers' loyalty every day in a rapidly expanding mobile-first digital world."

For earnings history and earnings-related data on Verizon Communications (VZ) click here.

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