Q4 23 EPS
$1.08
BEAT +0.00%
Est. $1.08
Q4 23 Revenue
$35.13B
vs S&P Since Q4 23
-17.4%
TRAILING MARKET
VZ +31.1% vs S&P +48.5%
Full Year 2023 Results
FY 23 EPS
$4.71
BEAT +0.00%
Est. $4.71
FY 23 Revenue
$133.97B
BEAT +0.34%
Est. $133.52B
Market Reaction
Did VZ Beat Earnings? Q4 2023 Results
Verizon closed out 2023 with a quarter that told two very different stories. On an adjusted basis, the telecom giant matched Wall Street's $1.08 EPS consensus exactly while nudging revenue to $35.13 billion, a 1.30% beat against the $34.68 billion es… Read more Verizon closed out 2023 with a quarter that told two very different stories. On an adjusted basis, the telecom giant matched Wall Street's $1.08 EPS consensus exactly while nudging revenue to $35.13 billion, a 1.30% beat against the $34.68 billion estimate, even as total revenue edged down 0.3% year over year. The headline GAAP picture was far grimmer: a $5.80 billion goodwill impairment charge tied to the Verizon Business Group unit anchored a $7.80 billion pre-tax special items loss, pushing the company to a GAAP net loss of $2.60 billion compared to net income of $6.70 billion in Q4 2022. Beneath those charges, however, the wireless business delivered genuine momentum, postpaid phone net additions more than doubled to 449,000, and fixed wireless access crossed 3 million subscribers. Full-year free cash flow climbed to $18.70 billion from $14.10 billion, with investors watching growth closely as Verizon guided 2024 adjusted EPS to $4.50–$4.70 and wireless service revenue growth of 2.0%–3.5%.
Key Takeaways
- • Wireless service revenue growth of 3.2% driven by pricing actions, premium plan adoption, and FWA growth
- • Consumer postpaid phone gross additions up 16.9% YoY, best quarterly performance in four years
- • Total postpaid phone net additions of 449,000, up from 217,000 in Q4 2022
- • 375,000 fixed wireless net additions in Q4, bringing total FWA subscribers past 3 million
- • Consumer EBITDA margin expanded to 38.5% from 37.9% YoY
- • Lower upgrade volumes contributing to improved margins
- • Capital expenditures declined to $18.8 billion from $23.1 billion, boosting free cash flow
VZ YoY Financials
Q4 2023 vs Q4 2022, source: SEC Filings
VZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“After delivering continuous improvement throughout 2023, we ended the year strong and continue to pursue the right balance of growth and profitability.”
— Hans Vestberg, Q4 2023 Earnings Press Release
VZ Earnings Trends
VZ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VZ EPS Trend
Earnings per share: estimate vs actual
VZ Revenue Trend
Quarterly revenue: estimate vs actual
VZ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 24 BEAT FY | $1.10 | $1.10 | +0.00% | $35.68B | — |
| FY Full Year | $4.60 | $4.59 | -0.17% | $134.79B | +0.25% |
| Q2 24 BEAT | $1.15 | $1.15 | +0.00% | $32.80B | -0.81% |
| Q1 24 BEAT | $1.12 | $1.15 | +2.68% | $32.98B | -0.78% |
| Q4 23 BEAT FY | $1.08 | $1.08 | +0.00% | $35.13B | — |
| FY Full Year | $4.71 | $4.71 | +0.00% | $133.97B | +0.34% |