Verizon Non-GAAP EPS of $1.19 in-line, revenue of $35.3B beats by $160M (NYSE:VZ)
For 2023, Verizon expects the following:
- Total wireless service revenue growth of 2.5 percent to 4.5 percent.
- Adjusted EBITDA1 of $47.0 billion to $48.5 billion.
- Adjusted EPS of $4.55 to $4.85 vs $5.00 consensus
- Adjusted effective income tax rate in the range of 22.5 percent to 24.0 percent.
- Capital spending in the range of $18.25 billion to $19.25 billion, including the final approximately $1.75 billion of the incremental $10 billion of C-Band-related capital spending.
Total broadband net additions of 416,000 was the best total broadband performance in over a decade, reflecting a strong demand for Fios and fixed wireless products. This result included 379,000 fixed wireless net additions, an increase of 37,000 fixed wireless net additions from third-quarter 2022. The company reported sequential quarterly net addition growth in fixed…