Verizon Reports Q4 Results, Guidance Misses
<p><a href='https://financialmodelingprep.com/financial-summary/VZ'>Verizon Communications (NYSE:VZ)</a> reported its Q4 results, with EPS of $1.19 meeting the Street expectations. Revenue was $35.3 billion, slightly better than the Street estimate of $35.11 billion. The company expects fiscal 2023 EPS to be in the range of $4.55-$4.85, missing the Street estimate of $4.97.</p>
<p>According to the analysts at Deutsche Bank, the company’s results and guidance reflect the structural competitive challenges the company faces in Consumer Wireless, despite being an otherwise well-managed, high-quality, defensive business.</p>
<p>The root cause of these structural challenges is the combination of Verizon's industry-leading postpaid phone market share (at an estimated 38%); the fact that Verizon's two main competitors in wireless, AT&T and T-Mobile/Sprint, have significantly improved their own execution; and that the Cable industry has increased its share of industry gross and net adds.</p>

NYSE:VZ