Verizon added 1.52 million retail “postpaid” subscribers in the period, or “connections”, as it terms them, but also lost 157,000 prepaid subs, for a net gain of 1.36 million. For the first quarter of 2016, EPS is expected to be $1.051.
Advertisement
Its net profit came in at $5.51 billion, reversing a $2.15 billion loss from the same quarter a year earlier.
Smartphones: Verizon said it activated 7.6 million phones via device payment plans in the fourth quarter.
Verizon released its fourth quarter earnings report before opening bell this morning, posting adjusted earnings of 89 cents per share and $34.3 billion in revenue. Overall, 2015 revenue reached $131.6 billion, a growth of 3.6 percent. Strategic services revenues declined 1.7% to $2,075 million.
Recently, TheStreet Ratings objectively rated this stock according to its “risk-adjusted” total return prospect over a 12-month investment horizon.
Postpaid churn for retail was 0.96 percent in the fourth quarter. On its earnings call to investors, Verizon reaffirmed its commitment to Go90, its social-centric video platform aimed at younger customers, and touted its new FreeBee Data 360 sponsored data program as a competitive answer to similar services (e.g., AT&T’s program). Northcoast Asset Management raised its stake in shares of Verizon Communications by 3.7% in the third quarter. Segment EBITDA increased 18.9% to $9,104 million. On average, equities analysts forecast that Verizon Communications Inc. will post $3.97 earnings per share for the current fiscal year.
Verizon Wireless ended 2015 with 112.1 million total direct connections, with the carrier still not reporting connection numbers from its wholesale or “Internet of Things” operations.
Today was a big day for Verizon Communications Inc. The carrier claims 25 million such connections in total, accounting for 29 percent of its postpaid phone base. Verizon’s strategy once again paid solid if not spectacular dividends: It posted 449,000 net postpaid phone adds – down 33 percent year-over-year in a plateauing market – and 960,000 net tablet additions.
10 Amid reported production cuts for the Apple (NASDAQ:AAPL) iPhone, Verizon’s (NYSE:VZ) CFO Fran Shammo indicated that iPhone upgrades in ’16 may be as muted as in ’15.
Advertisement
The share price of the company (NYSE:VZ) was up +0.99%, with a high of 45.01 during the day and the volume of Verizon Communications Inc. shares traded was 20377188. Mobile service revenues contracted by more than $1 billion, but Verizon Wireless saw equipment sales grow by 28% to $5.4 billion as more customers chose to buy new devices using instalment price plans.
