Verizon Communications Reports Q2 Fiscal 2023 Earnings Results on July 25, 2023

🌥️Earnings Overview

Verizon Communications ($NYSE:VZ) released its earnings report for the second quarter of fiscal 2023, ending on June 30, 2023, on July 25, 2023. Revenue was USD 32.6 billion, a decline of 3.5% from the same period in the prior year. Net income came in at USD 4.6 billion, a decrease of 10.6% from the year before.

Market Price

The company’s stock opened the day at $34.6 per share and closed at $34.2, representing a 0.8% increase from the previous closing price of $34.0. VERIZON COMMUNICATIONS also reported mixed results across its various divisions. Overall, VERIZON COMMUNICATIONS stock ended the day slightly up, signaling optimism in the company’s future performance. With strong performance in its Wireline segment and expected growth in its wireless business, investors are hopeful that VERIZON COMMUNICATIONS will be able to continue delivering healthy returns for shareholders. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Verizon Communications. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Verizon Communications. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Verizon Communications. More…

Key Ratios Snapshot

Some of the financial key ratios for Verizon Communications are shown below. More…

Analysis

At GoodWhale, we are proud to offer a comprehensive analysis of VERIZON COMMUNICATIONS‘s fundamentals. Our Star Chart classifies VERIZON COMMUNICATIONS as a ‘cow’, which usually have a track record of paying out consistent and sustainable dividends. For this reason, these companies are often attractive to investors who are looking for reliable returns. In addition to its dividends, VERIZON COMMUNICATIONS has a high health score of 7/10, indicating that it is capable to ride out any economic difficulties without the risk of bankruptcy. Furthermore, our analysis revealed that the company is strong in dividend and profitability, medium in asset, and weak in growth, making it a solid choice for investors interested in a balanced portfolio. More…

Peers

Verizon Communications Inc is a leading telecommunications, Internet, and television provider in the United States. It has a wide range of competitors, including AT&T Inc, T-Mobile US Inc, America Movil SAB de CV. Each of these companies has its own strengths and weaknesses, but Verizon is generally considered to be a leader in the industry.

– AT&T Inc ($NYSE:T)

AT&T Inc. is an American multinational conglomerate holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world’s largest telecommunications company, the second largest provider of mobile telephone services, and the largest provider of fixed telephone services in the United States through AT&T Communications. Since June 14, 2018, it also owns the media conglomerate WarnerMedia, making it the world’s largest entertainment company in terms of revenue. As of 2021, AT&T is ranked #9 on the Fortune 500 rankings of the largest United States corporations by total revenue.

AT&T Inc. has a market cap of 110.74B as of 2022 and a Return on Equity of 12.91%. AT&T is the world’s largest telecommunications company and the second largest provider of mobile telephone services. The company also owns the media conglomerate WarnerMedia, making it the world’s largest entertainment company in terms of revenue.

– T-Mobile US Inc ($NASDAQ:TMUS)

T-Mobile US, Inc., together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services to approximately 79 million customers as of the end of 2019. It also provides wireless devices, including smartphones, tablets, and other mobile communication devices; and accessories that are manufactured by various suppliers. In addition, the company offers its services to business and government customers; and wholesale customers, such as mobile virtual network operators and other telecommunications carriers. T-Mobile US, Inc. was founded in 1994 and is headquartered in Bellevue, Washington.

– America Movil SAB de CV ($OTCPK:AMXVF)

America Movil SAB de CV, also known as Telcel, is a Mexican telecommunications company headquartered in Mexico City, Mexico. As of 2022, it is the largest mobile network operator in Mexico, with a market share of approximately 70%. Telcel also provides fixed-line, broadband, and pay TV services in Mexico. The company was founded in 1972 and is a subsidiary of America Movil.

Summary

Verizon Communications reported a 3.5% decrease in total revenue for the second quarter of fiscal 2023, ending on June 30, 2023. Reported net income decreased 10.6% year over year. Despite the decrease in revenue, Verizon Communications still reported strong earnings results. Analysts suggest that investors looking for stability may want to consider investing in Verizon Communications as the company appears to be well-positioned to weather economic uncertainty in the near term.