Verizon Non-GAAP EPS of $1.35 In-line, Revenue of $33.6B In-line

Seeking Alpha2022-04-22
  • Verizon Q1 Non-GAAP EPS of $1.35 in-line.
  • Revenue of $33.6B (+2.1% Y/Y) in-line.
  • Shares -1.7% PM.
  • 229,000 total broadband net additions, the best quarter in over a decade, including 194,000 fixed wireless net additions, 2.5 times the fourth quarter 2021level.
  • 35,000 wireline broadband net additions, driven by 60,000 Fios Internet net additions in first-quarter 2022.
  • Total wireless service revenue of $18.3 billion, a 9.5 percent increase year over year.
  • Total retail postpaid churn of 1.04 percent, and retail postpaid phone churn of 0.83 percent.
  • Total wireless activations up 11 percent year over year.

  • Additionally, Verizon expects the following results for full-year 2022:

    • Reported wireless service revenue growth at the lower end of the previously guided range of 9 percent to 10 percent.
    • Adjusted EBITDA1growth at the lower end of the previously guided range of 2 percent to 3 percent.
    • Adjusted EPS1at the lower end of the previously guided range of $5.40 to $5.55.
    • Adjusted effective income tax rate1in the range of 23 percent to 25 percent.
    • Capital spending, excluding C-Band, in the range of $16.5 billion to $17.5 billion. Additional expenditures related to the deployment of the company's C-Band 5G network are expected to be in the range of $5 billion to $6 billion.
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