Verizon earnings for the fourth quarter of 2018 has VZ stock sliding lower on Tuesday.
Verizon (NYSE:VZ) reported revenue of $34.28 billion for the fourth quarter of the year. This is an increase over the company’s revenue of $33.96 billion that was reported in the same period of the year prior. However, it was bad news for VZ stock by coming in below Wall Street’s revenue estimate of $34.44 billion for the quarter.
Earnings per share reported in Verizon earnings for the fourth quarter of 2018 came in at $1.12. This is better than the company’s earnings per share of 86 cents from the same time last year. It also beats out analysts’ earnings per share estimate of $1.09 for the period, but couldn’t keep VZ stock from slipping today.
The most recent Verizon earnings report also has the company bringing in net income of $2.07 billion. The wireless company’s net income reported during the same time last year was $18.78 billion.
Verizon earnings for the fourth quarter of the year also includes operating income of $637 million. This is a drop from the company’s operating income of $5.46 billion reported in the fourth quarter of the previous year.
Verizon also provides its outlook for 2019 in its most recent earnings report. The company is expecting earnings per share to be about the same as in 2018. It is also looking for revenue to grow in the low single-digit percentage range. Wall Street’s estimate is for earnings per share of $4.73 on revenue of $132.22 billion for the full year of 2019.
VZ stock was down 1% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
