•
Sep 30, 2022
Verizon Q3 2022 Earnings Report
Verizon's Q3 2022 results reflected revenue growth momentum and sequential improvement in Consumer postpaid phone gross additions. Business reported its fifth consecutive quarter with over 150,000 postpaid phone net additions.
Key Takeaways
Verizon reported a 4.0% increase in total revenue to $34.2 billion in Q3 2022. EPS was $1.17, and adjusted EPS was $1.32. The company saw growth in wireless service revenue and broadband net additions.
Total revenue increased by 4.0 percent year over year to $34.2 billion.
Wireless service revenue increased by 10.0 percent year over year.
Total broadband net additions were 377,000, including 342,000 fixed wireless net additions.
Business reported 360,000 wireless retail postpaid net additions.
Verizon
Verizon
Verizon Revenue by Segment
Forward Guidance
Verizon continues to expect the following results for full-year 2022:
Positive Outlook
- Reported wireless service revenue growth of 8.5 to 9.5 percent.
- Reported service and other revenue growth of minus 1 percent to flat.
- Adjusted EBITDA growth of minus 1.5 percent to flat.
- Adjusted EPS of $5.10 to $5.25.
- Adjusted effective income tax rate in the range of 23 percent to 25 percent.
Challenges Ahead
- Capital spending, excluding C-Band, in the range of $16.5 billion to $17.5 billion.
- Additional expenditures related to the deployment of the company's C-Band 5G network are expected to be in the range of $5 billion to $6 billion.