Verizon Q1 EPS $1.20 adj, revenue $32.9B; broadband adds record 437K; guidance reaffirmed

VERIZON COMMUNICATIONS INC

2023-Q1 EPS reported $1.17 revenue$32,912,000,000

GAAP EPS $1.17 vs $1.09 YoY; adjusted EPS $1.20 vs $1.35 YoY.
Total revenue $32.9B, down 1.9%; wireless service revenue up 3.0% to $18.9B.
Postpaid phone net losses of 127K; gross additions up 5.3% YoY.
Broadband net adds 437K (largest in a decade), with 393K fixed wireless, 67K Fios.
Free cash flow $2.3B, up from $1.0B YoY; full-year guidance reaffirmed.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VERIZON COMMUNICATIONS INC reported first quarter of 2023 results: revenue $32.9 billion, net income $5.0 billion, EPS $1.17.

Period: first quarter of 2023
Revenue: $32.9 billion
Net income: $5.0 billion
EPS: $1.17
Result: reported results

Exact text from the filing

1Q 2023 highlights C onsolidated: • $1.17 in EPS, compared with $1.09 in first-quarter 2022; adjusted EPS 1 , excluding a special item, of $1.20, compared with $1.35 in first-quarter 2022. • Total operating revenue of $32.9 billion, a decrease of 1.9 percent from first-quarter 2022. • Net income of $5.0 billion, an increase of 6.5 percent from first-quarter 2022, and adjusted EBITDA 1 of $11.9 billion, down 1.1 percent year over year.

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Source: SEC EDGAR

accession 0000732712-23-000026

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