Verizon's Financial Triumph in Q4

Verizon Communications has announced a notable 1.6% year-over-year increase in its fourth-quarter revenue, reaching $35.7 billion. This growth is attributed to the company's strong performance in wireless services. The net income for the quarter saw a significant rise to $5.1 billion, a stark contrast to the $2.6 billion loss reported in the same period of 2023. Earnings per share (EPS) also saw an improvement, climbing to $1.18 from a previous loss of $0.64.

Annual Performance and Future Outlook

For the entirety of 2024, Verizon's revenue experienced a slight increase to $134.8 billion, with adjusted EPS at $4.59, slightly down from $4.71 in 2023. The company invested $17.1 billion in capital expenditures, focusing on 5G expansion and fixed wireless access growth. Free cash flow also saw an improvement, increasing to $19.8 billion from $18.7 billion.

CEO Hans Vestberg expressed optimism about the company's future, citing ongoing innovations, new partnerships, and strategic acquisitions like Frontier as key drivers for growth. Verizon anticipates a wireless service revenue growth of up to 2.8% and an adjusted EPS growth of up to 3% in 2025.

Market Response

Following the announcement, Verizon shares experienced a 1.15% increase in premarket trading in New York, reflecting investor confidence in the company's performance and future prospects.