By Katherine Hamilton
Verizon Communications surpassed expectations with its first-quarter earnings and said it is still on course to meet its yearly goals.
The telecommunications provider on Tuesday posted a profit of $5 billion, or $1.15 a share, in the first quarter, compared with $4.7 billion, or $1.09 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $1.19, ahead of the $1.15 forecast by analysts, according to FactSet.
Revenue rose 1.5%, to $33.5 billion. Analysts surveyed by FactSet forecast revenue of $33.28 billion.
Verizon's total wireless-service revenue rose 2.7% and consumer revenue rose 2.2%, while sales from its business segment were down 1.2%. It also had 339,000 net additions to its broadband business and is on track to achieve eight million to nine million fixed wireless access subscribers by 2028, it said.
The company said it remains confident in achieving its 2025 goals and full-year guidance. It still expects annual adjusted earnings to range from flat to up 3%, compared with $4.59 a share a year ago.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 22, 2025 06:56 ET (10:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.