VZ Stock: Verizon Earnings Guidance Misses Estimates Amid Consumer Wireless Struggles
Verizon Communications (VZ) on Tuesday reported fourth-quarter adjusted earnings that met estimates, but its 2023 earnings outlook missed. VZ stock fell amid expectations that more aggressive wireless promotions, mainly smartphone subsidies, will impact 2023 profit.
For the December quarter, Verizon earnings were $1.19 an adjusted share, down 10% from a year earlier, excluding items. Revenue rose 3.5% to $35.3 billion.
A year earlier, Verizon earned $1.31 a share on revenue of…