Verizon Posts Q4 Loss Despite Better-Than-Expected Revenue

Special Items Lead to Loss, but Adjusted Earnings Meet Wall Street Estimates

Verizon Communications reported a Q4 loss of $2.57 billion due to a $7.8 billion loss on special items, despite better-than-expected revenue of $35.1 billion.
The company's adjusted earnings per share were $1.08, meeting Wall Street estimates.
Verizon added 449,000 postpaid phone customers and 375,000 5G broadband customers in Q4.
For 2024, Verizon forecasts wireless service revenue growth of 2% to 3.5%, and adjusted EPS of $4.50 to $4.70.
The company is focusing on generating growth in service revenue, free cash flow and earnings before interest, taxes, depreciation and amortization.