4/22/2022, 1:30 PM (Source: TeleTrader)
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Verizon's EPS down 14% to $1.09 in Q1

Verizon Communications Inc. said on Friday that its revenue in the first quarter of 2022 amounted to $33.6 billion, rising 2% compared to the same period in 2021 and matching estimates.

Earnings per share slid 14% year on year to $1.09, while adjusted EPS stood at $1.35. Net income declined 12% to $4.7 billion

"Our operational performance in the first-quarter further positions Verizon for long-term growth and increases our competitive standing in mobility, nationwide broadband, the value market, and above the network business solutions and applications," CEO Hans Vestberg stated.

Verizon shares were up 0.51% in premarket trading following the release of the quarterly results.

Baha Breaking News (BBN) / NP