From Nasdaq:

Verizon Communications Inc. will release its fourth-quarter 2023 results on Jan 23. The Business segment’s revenues are expected to be lower due to a challenging macroeconomic environment. The segment includes wireless and wireline operations and completed the deployment of the Express Entry facility at Bank of America Stadium. This technology uses 5G Edge Accelerated Access and facial authentication to improve security and reduce congestion. Verizon also partnered with Axon Enterprise Inc. and Zebra Technologies to showcase 5G network slicing capabilities and launch specialized Zebra mobile devices for Verizon Private 5G users.

The company announced an estimated $5.8 billion goodwill impairment charge in the Business segment for the fourth quarter. Estimates for the Business segment are $7,876 million in revenues, which is a decline from the year-ago quarter, and $617 million in operating income, suggesting an improvement from last year. For the December quarter, the consensus estimate for revenues is $34,819 million and adjusted earnings per share is $1.07, which is a decrease from last year.

However, the company’s projected earnings per share do not predict an earnings beat for Verizon in the fourth quarter. They are forecasted to have a -0.54% Earnings ESP and a Zacks Rank #3. However, stocks that may post an earnings beat are Qualcomm Incorporated, Silicon Motion Technology Corporation, and Meta Platforms, Inc. They have Earnings ESPs of +3.45%, +4.92%, and +4.58% respectively.

Overall, Verizon is expected to report lower revenues and adjusted earnings per share for the fourth quarter. While there may not be an earnings beat, companies like Qualcomm Incorporated, Silicon Motion Technology Corporation, and Meta Platforms, Inc. are expected to post strong earnings results.



Read more: Will Soft Business Revenues Affect Verizon (VZ) Q4 Earnings?