Verizon Q3 2024 Earnings Report
Key Takeaways
Verizon reported strong third-quarter results, driven by customer growth in mobility and broadband. The company achieved its fixed wireless subscriber target 15 months ahead of schedule and saw double-digit growth in total broadband connections. While total operating revenue remained essentially flat, wireless service revenue increased. The company remains on track to meet full-year 2024 financial guidance.
More than doubled wireless postpaid phone net additions year over year.
Achieved fixed wireless subscriber target 15 months ahead of schedule.
Total broadband net additions reached 389,000, marking the ninth consecutive quarter with over 375,000 net additions.
Wireless service revenue increased by 2.7 percent year over year.
Verizon
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Verizon Revenue by Segment
Forward Guidance
Verizon expects to meet the following financial targets for 2024:
Positive Outlook
- Total wireless service revenue growth of 2.0 percent to 3.5 percent.
- Adjusted EBITDA growth of 1.0 percent to 3.0 percent.
- Adjusted EPS of $4.50 to $4.70.
- Capital expenditures between $17.0 billion and $17.5 billion.
- Adjusted effective income tax rate in the range of 22.5 percent to 24.0 percent.