Verizon Communications (VZ) Tops Q2 EPS by 3c, Maintains FY Guidance

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Go back to Verizon Communications (VZ) Tops Q2 EPS by 3c, Maintains FY Guidance

Strong wireless customer additions and cash flow highlight Verizon's 2Q and first-half 2020 results

July 24, 2020 7:30 AM EDT

Disciplined network strategy, strong operational performance, and wireless customer growth

2Q 2020 highlights

Consolidated:

$1.13 in earnings per share (EPS), compared with $0.95 in 2Q 2019; adjusted EPS (non-GAAP), excluding special items, of $1.18, compared with $1.23 in 2Q 2019.Operating revenue decline of 5.1 percent from second-quarter 2019.First-half 2020 cash flow from operations of $23.6 billion, an increase of $7.7 billion from first-half 2019.Second-quarter 2020 total debt reduction of $4.9 billion, and net debt (non-GAAP) reduction of $5.7 billion.

Consumer:

Total revenue of $21.1... More