Verizon Shares Down 3%, Reports In-Line Q1 Results, Trends Weaken
<p><a href='https://financialmodelingprep.com/financial-summary/VZ'>Verizon Communications Inc. (NYSE:VZ) </a>shares fell around 3% today following the company’s Q1 results, with EPS of $1.35 coming in roughly in line with the Street estimate. Revenue grew 2% to $33.6 million, compared to the Street estimate of $33.53 million. </p>
<p>The company saw weaker subscriber growth in March and April, and due to this and other reasons, guided to the low end of 2022 guidance, which is likely still aggressive. </p>
<p>The company’s mobile prices are 20% above T-Mobile and it has an inferior network. With inflation running at 8.5% and wage growth at half of this, consumers are looking to save money wherever possible, and cheaper wireless plans and paid TV are likely sources. </p>
<p>Analysts at Oppenheimer provided their views on the company, expecting the company to have difficulties growing revenue and EBITDA much in 2023 and beyond. According to the analysts, the company will need to lower its price points, but offering $25 home broadband and more content does help but hurts margins.</p>

NYSE:VZ