7/21, 1:07 PM (Source: TeleTrader)
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Verizon's Q2 total revenue at $33.8B, up 10.9% YoY

Verizon Communications Inc. reported on Wednesday that its total revenues for the second quarter of 2021 stood at $33.8 billion increasing 10.9% when compared to the same period last year.

For the same period, the company stated that its net income reached $5.9 billion, while its earnings per share climbed from $1.13 to $1.40, marking a year-over-year gain of 23.9%. Consumer segment operating income rose 6% per annum to reach $7.5 billion, while business segment operating incomed saw a 9.5% yearly decline to $856 million.

Verizon Chief Financial Officer Matt Ellis commented on the results: "Second quarter results were exceptional, both financially and operationally. Our strong first half performance and the momentum in our business gives us the confidence to raise our total wireless service revenue growth guidance to between 3.5 percent and 4 percent, an update from prior guidance for 2021 total wireless service revenue growth of at least 3 percent."

Verizon shares increased by 1.39% following the release of the earnings report.

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