Verizon's Q4 revenue up by 1.6% to $35.7 billion - Breaking The News

Verizon's Q4 revenue up by 1.6% to $35.7 billion

24 January

1 min read

EPA-EFE/CJ GUNTHER

Verizon Communications reported on Friday a 1.6% year-over-year increase in fourth-quarter revenue to $35.7 billion, driven by strong wireless service performance. Net income for the quarter soared to $5.1 billion, reversing a $2.6 billion loss in the same period of 2023, while earnings per share (EPS) reached $1.18, up from a loss of $0.64 last year.

For 2024, Verizon's revenue grew slightly to $134.8 billion, with EPS at $4.14, up from $2.75 in 2023. Capital expenditures totaled $17.1 billion, supporting initiatives like 5G expansion and fixed wireless access growth.

CEO Hans Vestberg highlighted the company's strong subscriber growth and future prospects, stating, "With ongoing innovations, new partnerships, and strategic acquisitions like Frontier, we are well-positioned for further growth." Verizon projects 2025 wireless service revenue growth of up to 2.8% and adjusted EPS growth of up to 3%

Verizon shares rose 1.15% in premarket in New York following the report's publication.

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