Verizon Communications (VZ) reported quarterly earnings of $1.15 per share, exceeding the Zacks Consensus Estimate of $1.12 and surpassing year-ago earnings of $1.20. However, revenue fell short of expectations, coming in at $32.98 billion compared to $32.91 billion in the same period last year.
Despite the revenue miss, Verizon has outperformed the market this year, with its shares rising approximately 7.4% year-to-date compared to the S&P 500’s gain of 4.1%. The company’s earnings outlook is expected to provide insights into the future performance of its stock.
Analysts have mixed views on Verizon’s earnings outlook, which is reflected in the company’s Zacks Rank of #3 (Hold). The current consensus EPS estimate for the coming quarter is $1.15 on $33.16 billion in revenues, while the full-year estimate is $4.58 on $135.9 billion in revenues.
It is important to note that the industry outlook can also impact the performance of Verizon’s stock. The Wireless National industry, to which Verizon belongs, is currently ranked in the bottom 18% of Zacks industries. Research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1.
Investors should monitor earnings estimate revisions and industry trends to gauge the potential future performance of Verizon’s stock.
