Verizon Q2 2022 Earnings Report
Key Takeaways
Verizon reported a relatively flat total revenue of $33.8 billion compared to Q2 2021. EPS decreased to $1.24 from $1.40 year-over-year, with adjusted EPS at $1.31. Net income saw a decrease of 10.7% to $5.3 billion, while adjusted EBITDA declined by 2.6% to $11.9 billion. The company focused on improving operational and financial performance through strategic decisions and new consumer mobility plans.
Total revenue remained relatively flat at $33.8 billion compared to the second quarter of 2021.
Net income decreased by 10.7% to $5.3 billion year-over-year.
Total broadband net additions reached 268,000, including 256,000 fixed wireless net additions.
Business segment reported 430,000 wireless retail postpaid net additions, including 227,000 postpaid phone net additions.
Verizon
Verizon
Verizon Revenue by Segment
Forward Guidance
Verizon is updating its financial guidance for the full year 2022, reflecting adjustments in expected revenue and profitability amid a competitive market.
Positive Outlook
- Wireless service revenue growth is projected to be between 8.5% and 9.5%.
- The company anticipates capital spending, excluding C-Band, to range from $16.5 billion to $17.5 billion.
- Continued expectations for an adjusted effective income tax rate in the range of 23% to 25%.
- Ongoing deployment of the company's C-Band 5G network is expected, with related expenditures between $5 billion and $6 billion.
- Focus on strategic decisions to improve profitable growth opportunities.
Challenges Ahead
- Reported service and other revenue growth is updated to a range of -1% to flat.
- Adjusted EBITDA growth is revised to a range of -1.5% to flat.
- Adjusted EPS is updated to a range of $5.10 to $5.25.
- Recent performance did not meet company expectations.
- The market remains very competitive.