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Verizon Beats On Q2 Earnings, Issues Robust FY21 Outlook

Benzinga2021-07-21

Verizon Communications Inc (NYSE:VZ) reported second-quarter FY21 operating revenue growth of 10.9% year-on-year to $33.8 billion, beating the analyst consensus of $32.68 billion. Wireless revenue growth, strong Fios and Verizon Media results, and increased wireless equipment revenue drove the revenue numbers.

Financials: Total Verizon Consumer revenue grew 11.2% Y/Y to $23.5 billion, Consumer wireless service revenues rose 5.4% Y/Y to $13.8 billion., while Wireless equipment revenues of $4.7 billion drove the growth.

Total wireless service revenue rose 5.9% Y/Y to $16.9 billion, with Total business revenue increasing 3.7% Y/Y to $7.8 billion. Total Verizon Media revenues improved 50% Y/Y to $2.1 billion.

Total retail postpaid churn stood at 0.94%, and retail postpaid phone churn at 0.72%. The 528,000 retail postpaid net additions include 275,000 phone net additions, leading to 121.3 million total retail connections.

The adjusted EPS of $1.37 beat the analyst consensus of $1.29.

Verizon generated $20.4 billion in operating cash flow in the first half of 2021. Capital expenditures in the first half of 2021 were $8.7 billion.

The consumer segment EBITDA margin was 44.3%. The business segment's EBITDA margin was 24.1%.

The results reflect an increase in 5G phone adoption, customer and sequential wireless service revenue growth, and superior network reliability.

In Q2 2021, Verizon announced an agreement to sell Verizon Media to Apollo funds.

Outlook: Verizon raised its FY21 total wireless service revenue growth guidance to 3.5%- 4%, from the prior expectation of at least 3%. It increased the adjusted EPS guidance to $5.25 - $5.35 from the previous range of $5.00 - $5.15, above the analyst consensus of $5.12.

Capital spending is likely to range between $17.5 billion - $18.5 billion.

Price action: VZ shares traded higher by 1.69% at $56.52 in the premarket session on the last check Wednesday.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

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  • BBBBBBBBBB
    ·2021-07-21
    Ok
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  • BBBBBBBBBB
    ·2021-07-21
    Ok
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  • Zawzaw
    ·2021-07-21
    Good
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    • LW100
      Comment
      2021-07-21
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    • 股你怕么
      good
      2021-07-21
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  • Enliven22
    ·2021-07-21
    Pls like
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  • zhiwei1710
    ·2021-07-21
    Good! 
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  • zhiwei1710
    ·2021-07-21
    Pls like
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    • ArchAngel
      Done
      2021-07-21
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    • ratata
      ok
      2021-07-21
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  • NPC69
    ·2021-07-21
    Like. 
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  • Rachel1129
    ·2021-07-21
    👍🏻
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  • TheoL
    ·2021-07-21
    Hmmmm wonder if 3Q will be the same
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  • Garyloh
    ·2021-07-21
    Good
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  • jw321
    ·2021-07-21
    fuelled!
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  • Blyss
    ·2021-07-21
    Nice
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    • jw321
      for?
      2021-07-21
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