Verizon's Q1 Revenue Misses Expectations, Consumer Business Struggles.
Originally Published 2 years ago — by Yahoo Finance
Verizon reported a Q1 FY23 sales decline of 1.9% YoY to $32.9bn, missing the consensus of $33.6bn. Adjusted EPS of $1.20 was in line with the consensus. Total wireless service revenue was $18.9bn, up 3% YoY, reflecting the company's ownership of TracFone, premium Unlimited strategy, and pricing actions. Verizon reiterates wireless service revenue growth of 2.5% - 4.5% and adjusted EPS of $4.55 - $4.85, below the consensus of $4.70. VZ shares traded lower by 1.40% at $36.58 in premarket on the last check Tuesday.