Verizon Communications Inc. (NASDAQ:VZ) today reported strong second-quarter 2019 results, highlighted by an increase in net wireless customer additions, continued customer loyalty and industry-leading wireless products and services.
For second-quarter 2019, Verizon reported EPS of 95 cents, compared with $1.00 in second-quarter 2018. On an adjusted basis (non-GAAP), second-quarter 2019 EPS, excluding a special item, was $1.23, compared with adjusted EPS of $1.20 in second-quarter 2018. Verizon’s second-quarter 2019 EPS included 28 cents in early debt redemption costs.
According to CEO Hans Vestberg, "Verizon finished strong in the first half of 2019 by delivering solid financial results while transforming the business under the new operating structure and advancing our leadership in 5G.
"Verizon made history this quarter by becoming the first carrier in the world to launch 5G mobility. We are focused on optimizing our next-generation networks and enhancing the customer experience while we head into the second half of the year with great momentum."
Total consolidated operating revenues in second-quarter 2019 were $32.1 billion, down 0.4% from second-quarter 2018. Wireless service revenue growth was offset by lower wireless equipment revenue and wireline service revenue.
Net income was $4.1 billion in second-quarter 2019. EBITDA (non-GAAP, earnings before interest, taxes, depreciation and amortization) totaled approximately $10.8 billion. Consolidated operating income margin was 24.5% in second-quarter 2019, compared with 20.5% in second-quarter 2018.
Shares improved 60 cents, or 1.1%, to $55.87
