Verizon Raises Annual Forecast as New 5G Plans Drive Subscriber Beat
VZ sits 15% above its 52-week low of $38.39.
Summary
Verizon posted a strong Q2, adding 184,000 postpaid phone subscribers—well above the 103,900 consensus—driven by its new Simplicity unlimited 5G plans and Verizon One bundled offering. Adjusted EPS of $1.30 beat estimates by $0.03, despite revenue of $34.3B missing the $35.16B consensus due to lower equipment sales. The net drop was primarily driven by $1.8B in pretax special items. Management raised full-year adjusted profit guidance to $4.99–$5.04 per share (from $4.95–$4.99) and free cash flow growth to 9–10% (from ~7%+), signaling confidence in the strategic turnaround under new CEO Dan Schulman. This follows the earlier announcement of accelerated cost cuts targeting $5B in savings, adding to the positive narrative.
At the time of this announcement, VZ was trading at $44.33 on NYSE in the Trade & Services sector, with a market capitalization of approximately $183B. The 52-week trading range was $38.39 to $51.68. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.