Verizon Communications saw its wireless-services revenue rise in the latest quarter, outperforming expectations as higher prices boosted its top line. The company reported adjusted earnings of $4.59 per share for 2024, with forecasts predicting at least flat year-over-year growth and a potential 3% increase in 2025. Analysts had pegged a slight penny above that projection earlier this year.
Wireless-services revenue reached $20 billion in Q4, up 2% to 2.8% from the previous year, marking the highest level since early 2021. Year-over-year, revenue rose 1.6%, surpassing analyst forecasts of $35.34 billion and topping actual figures at $35.7 billion.
Postpaid phone net additions grew to 568,000 in Q4, compared to 449,000 a year ago, while broadband net additions rose to 408,000. The company also saw wireless-service revenue grow by 3%, largely due to price hikes and increased sales of perks, add-ons, and fixed wireless access. Wireless equipment revenue climbed about half a percentage point to $7.5 billion from higher upgrade volumes.
For full details, contact Dean Seal at [email protected].
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Source: https://www.marketwatch.com/story/verizon-sees-wireless-services-revenue-rising-as-4q-tops-estimates-7a97ff9a