Verizon Posts Q4 Loss On One-Time Charge Despite Revenue Beat (2024)

FAQs

Verizon Posts Q4 Loss On One-Time Charge Despite Revenue Beat? ›

Verizon's (VZ) fourth quarter earnings were dragged into the red due to a $7.8 billion loss on special items despite posting better-than-expected revenue. 1 The company's shares were up a little over 3% in early trading. The company reported a loss of $2.57 billion or 64 cents per diluted share for the quarter.

Verizon reported its first quarter 2024 results yesterday, improving its customer losses compared to the same period last year, increasing wireless service revenues and for the first time, breaking out revenue details for its Fixed Wireless Access Service.

Verizon's consumer business also saw its best first-quarter performance since 2018, with 158,000 wireless retail postpaid phone net losses, compared with 263,000 losses a year ago. However, the company's shares were down 3.3% in early trading, with one analyst pointing to growth challenges in the wireless industry.

Total consolidated operating revenue in first-quarter 2024 of $33.0 billion, up 0.2 percent from first-quarter 2023. The increase can be attributed to pricing actions implemented in recent quarters, combined with improved operating results offset by a decrease in wireless equipment revenue due to lower upgrade volumes.

It came in below Wall Street's projection of $33.2 billion due to a decrease in wireless equipment revenue as customers put off upgrading their devices. Verizon's adjusted earnings was $1.15 a share, compared with expectations for $1.12.

"Verizon has historically been positioned as the best network at a premium price. However, customer perception of Verizon's network advantage has dissipated over the past two and a half years while price is still the biggest pain point cited by Verizon customers.

The Probability of Bankruptcy of Verizon Communications Inc (VZ) is 17.1% . This number represents the probability that Verizon will face financial distress in the next 24 months given its current fundamentals and market conditions.

The good news for the brand: Verizon customers are, for the most part, happy customers.

The backtest indicates that VZ could be a value trap. A value trap occurs when a stock looks inexpensive based on fundamental analysis but fails to reach its intrinsic valuation over time, often due to underlying issues not reflected in quantitative data. Scrutinize beyond numbers; assess long-term potential.

Many customers sign up for plans with more data, talk time or features than they actually need. This can create a higher phone bill. Reviewing your phone plan and usage patterns can help you ensure that you get the best possible phone deal.

How much debt is Verizon in? ›

Total debt on the balance sheet as of March 2024 : $175.63 B

According to Verizon's latest financial reports the company's total debt is $175.63 B. A company's total debt is the sum of all current and non-current debts.

Following last week's earnings report, Verizon Communications' 21 analysts are forecasting 2024 revenues to be US$135.0b, approximately in line with the last 12 months. Per-share earnings are expected to soar 68% to US$4.51.

The main source of income for Verizon Wireless primarily comes from providing wireless telecommunications services to its customers. This includes revenue generated from mobile phone plans, data usage fees, device sales, and related services such as internet access, text messaging, and value-added services.

According to the latest TipRanks data, approximately 32.15% of Verizon (VZ) stock is held by institutional investors. According to the latest TipRanks data, approximately 51.74% of Verizon (VZ) stock is held by retail investors. Vanguard owns the most shares of Verizon (VZ).

This is crucial as it shows that the hefty dividend which Verizon is paying now is very safe. It also has room to raise it, just as it did in its most recent payout (Verizon increased its quarterly dividend per share from $0.6525 to $0.665, a 2% increase).

Verizon has 8.00% upside potential, based on the analysts' average price target. Is VZ a Buy, Sell or Hold? Verizon has a conensus rating of Moderate Buy which is based on 4 buy ratings, 7 hold ratings and 0 sell ratings.

Verizon stock price stood at $39.79

According to the latest long-term forecast, Verizon price will hit $40 by the middle of 2024 and then $50 by the end of 2025. Verizon will rise to $55 within the year of 2026, $60 in 2027, $65 in 2028, $75 in 2029, $85 in 2030, $90 in 2032, $95 in 2033 and $100 in 2034.

Verizon is focused on giving customers the best network and technology. For this reason, we will be retiring our 3G network by December 31, 2022. To help transition customers to 4G or 5G we are creating plans that support these devices.

Price in 2024: According to experts, VZ stock will range between $41.96 and $51.43, reflecting positive market sentiment of the company. Long-term Price Forecast for 2025-2030: According to various analysts, Verizon's stock price may fall to $17.78 by mid-2029 or rise to $86.54 by December 2028.

Should You Buy? It may surprise many investors that Verizon Communications (NYSE: VZ) is the top-performing telecom stock in 2024. Indeed, it benefits from being one of only three 5G providers, and the industry's massive fixed costs make it unlikely that additional competitors will enter it.