Verizon Announces Fourth-Quarter and Full-Year 2019 Financial Results | Financial Buzz

Verizon Announces Fourth-Quarter and Full-Year 2019 Financial Results

Verizon Communications (NASDAQ: VZ) today announced its fourth-quarter and full year 2019 financial results and gave notice about a strong fourth-quarter, with earnings growth and the highest fourth-quarter phone net additions in six years. However, Verizon shares fell early Thursday.

Verizon reported for the fourth-quarter of 2019 earnings per share (EPS) of USD 1.23, compared with USD 0.47 in the same period of 2018. Adjusted (non-GAAP) EPS, without special items, was USD 1.13 in the fourth-quarter of 2019, compared with adjusted EPS of USD 1.12 last year.

Total consolidated operating revenues in the fourth-quarter of 2019 grew 1.4% and were USD 34.8 billion, primarily impacted by higher wireless service revenues.

For the full-year of 2019, Verizon reported earnings per share of USD 4.65, compared with USD 3.76 in 2018. Adjusted (non-GAAP) EPS in 2019, without special items, was USD 4.81, in comparison with USD 4.71 last year.

Up 0.8% from 2018, full-year consolidated operating revenues were USD 131.9 billion in 2019.

Hans Vestberg, the Chairman and CEO, said:”Verizon delivered strong operational performance in the fourth quarter, highlighted by continued wireless customer growth in both Consumer and Business.”

For 2020, Verizon expects adjusted (non-GAAP) EPS growth of 2% to 4% and low-to-mid single-digit percentage growth in consolidated revenues, compared to full-year 2019.

The Company’s CEO added: “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.”

Headquartered in New York City, Verizon Communications Inc. is one of the world’s leading providers of technology, communications, information as well as entertainment products and services.