Verizon Profit In 2024 Ad. Total wireless service revenue growth 2 of 2.0 percent to 3.5 percent. Company still trails peers on growth.
The company said it expects total wireless service revenue growth of 2.5% to 4.5% for 2023. Verizon’s profit forecast misses estimates amid mobile woes.
Verizon’s Profit Falls 23% As Price Increases Slow Growth.
Verizon annual/quarterly gross profit history and growth rate from 2010 to 2023.
For 2024, Verizon Expects The Following:
At close 4:00 pm est 03/08/24.
Added More Retail Mobile Customers In The Fourth Quarter Than It Has In Any Period Since 2021,.
Adjusted ebitda growth 1 of 1.0 percent to 3.0.
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Verizon Said It Was Expecting Adjusted Profit In 2024 To Be Between $4.50 And $4.70 Per Share, The Midpoint Of Which Was Higher Than The Estimates Of $4.59,.
Expects to cut capital spending by 23% in 2024 as the company completes its major 5g network buildout and turns its focus to sales growth and cash.
Verizon’s Profit Forecast Misses Estimates Amid Mobile Woes.
Shares eked out a 3% increase in 2023 to notch their first positive annual performance in five.
But Postpaid Phone Subscribers Bounced Back In The Fourth Quarter.
Verizon reported a net loss of $2.6 billion in q4 2023, compared to a net income of $6.7 billion in q4 2022.