Investing.com -- Verizon (NYSE:VZ) on Friday reported better-than-expected earnings and revenue for the fiscal fourth quarter. The company’s shares rose more than 1% in premarket trading.
The telecom giant posted quarterly earnings per share (EPS) of $1.10, just above the analyst estimate of $1.09.
It generated a revenue of $35.7 billion during the period, also exceeding the consensus forecast of $35.35 billion.
Adjusted EBITDA came in at $11.9 billion, reflecting a year-over-year increase of 1.7%, but falling short of the $12.02 billion estimate.
Consumer revenue totaled $27.6 billion, ahead of the projected $27.3 billion, while business revenue matched expectations at $7.5 billion.
Wireless service revenue was reported at $20 billion, slightly surpassing the $19.96 billion forecast, and wireless equipment revenue reached $7.5 billion, topping the $7.21 billion estimate.
"With innovations powered by the best network in the country, we are bringing the best experiences to our customers, in life and work. Customizable offerings like myPlan, myHome, Verizon Business Complete and Total (EPA:TTEF) Wireless feature the control, simplicity and value our customers expect," said Verizon Chairman and CEO Hans Vestberg.
"It’s only going to get better this year and beyond, as we have continued to strengthen Verizon with the pending Frontier acquisition, new satellite partnerships, and ongoing AI enablement, which we expect will enhance and broaden our network for everybody we serve."
Looking ahead, Verizon expects wireless service revenue growth in the range of 2% to 2.8% and adjusted EBITDA growth between 2% and 3.5%.
Adjusted EPS is anticipated to grow by 0% to 3%, while cash flow from operations is projected at $35 billion to $37 billion.
The company forecasts capital expenditures between $17.5 billion and $18.5 billion and free cash flow in the range of $17.5 billion to $18.5 billion.