Verizon Communications (NASDAQ:VZ) found its shares swooning Thursday on reporting fourth-quarter figures.
The company reported fourth-quarter earnings of $1.13 per share on Thursday, which missed the analyst consensus estimate of $1.14 by 0.88%. This is a 0.89% increase over earnings of $1.12 per share from the same period last year.
The company reported quarterly sales of $34.775 billion, which beat the analyst consensus estimate of $34.64 billion by 0.39%. This is a 1.44% increase over sales of $34.281 billion the same period last year.
In the consumer field, total revenue was $24.2 billion, an increase of 2% year over year, and total revenue of $8.1 billion, an increase of 0.8% year over year. Verizon also reported operating revenue growth of 1.4% from fourth-quarter 2018.
For fourth-quarter 2019, Verizon reported EPS of $1.23, compared with $0.47 in fourth-quarter 2018. On an adjusted basis (non-GAAP), fourth-quarter 2019 EPS, excluding special items, was $1.13, compared with adjusted EPS of $1.12 in fourth-quarter 2018.
Said CEO Hans Vestberg. "In 2019, Verizon drove innovation in 5G, established a new operating structure and delivered solid financial results. We entered 2020 with great momentum as we expand our network leadership and remain focused on the customer to provide a best-in-class experience.
“Our 5G footprint continues to grow as we lead this era of transformational change by building these next-generation networks the right way."
Shares in Verizon slumped 58 cents, or 1.4%, to $58.70
