From Nasdaq:

Verizon Communications Inc. is set to report its fourth-quarter 2023 results on Jan 23. The company is expected to see lower revenues despite significant growth in its 5G Ultra Wideband network during the quarter. The company’s consumer segment revenues are expected to decline, while its business segment revenues are expected to be marginally down.

Verizon is offering mix-and-match pricing in wireless and home broadband plans to increase adoption of 5G devices and premium unlimited plans. The company also has bundle plans for various streaming services, which may have led to healthy customer additions. However, revenues from the Consumer segment are expected to decline, due to higher promotional expenses.

The company also collaborated with Zebra Technologies to launch specialized Zebra mobile devices and software solutions tailored for Verizon Private 5G users, which is expected to result in incremental revenues in the quarter. However, high costs for 5G deployments and infrastructure investments are expected to have impacted margins.

The Zacks Consensus Estimate for Verizon’s revenues in the fourth quarter is $34,819 million, down from $35,251 million in the year-ago quarter. The consensus estimate for adjusted earnings per share stands at $1.07.

However, the Zacks model does not predict an earnings beat for Verizon in the fourth quarter, with an Earnings ESP of -0.54%. The company currently has a Zacks Rank #3. Other companies to consider for an earnings beat based on the Zacks model are Qualcomm Incorporated, Silicon Motion Technology Corporation, and Meta Platforms, Inc.



Read more: Will Revenue Contraction Dent Verizon’s (VZ) Q4 Earnings?