Verizon Communications Inc. showed off its earnings numbers for the three months ending September 2015 on Tuesday, October 20 before the bell for the day on in New York. The firm’s earnings came in at $0.99 per share for the quarter while revenue came in at $33.2B.
In the same period of last year, Verizon Communications Inc. managed to earn $0.89 per share. Sales for the same quarter in 2014 came in at $31.6B. In the three months heading into the release of today’s results, Verizon Communications Inc. stock has 3Month lost 4.50 of their value.
Here’s what Wall Street expected from Verizon Communications Inc.
Heading into the publication of these numbers, Wall Street forecast that Verizon Communications Inc. had earned $1.02 per share by consensus. Revenue was thought to have hit $32.94B for the quarter.
34 analysts were following Verizon Communications Inc. in the months before the firm put out these numbers. 9 analysts told clients the firms were a Buy, 7 analysts said they thought investors should make the stock Overweight, 16 analysts reported that the best strategy was to Hold the shares. 2 analysts advised that their readers hold the firm Underweight and none of the analyst thought the best move was to Sell the stock ahead of earnings.
Verizon Communications Inc. earnings in context
Verizon Communications Inc. (Verizon) is a holding company that, acting through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless’ communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States.
For the twelve months in 2015 Wall Street thinks that Verizon Communications Inc. will manage a profit of $3.94 per share. The full sales number for the fiscal year is expected to amount to $131.19B. In its prior fiscal year Verizon Communications Inc. made $3.38. Total revenue for the firm’s last fiscal year came in at $126.43B.