Verizon Communications (NYSE: VZ) the company’s commitment to 5G, the latest mobile technology of the moment, will double, the company said in its fourth quarter earnings report published on Tuesday.
The telecommunications giant’s revenue fell slightly to $ 34.69 billion for the quarter from $ 34.78 billion last year. The result was a stronger decline, to just under $ 4.72 billion, or $ 1.11 per share, from $ 5.22 billion a year ago. On an adjusted basis, however, the figure per share rose to $ 1.21 from the latter period’s $ 1.13.
Verizon’s net wireless fee-subscriber fee additions were about 279,000.
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Although the company hit both the bottom and top lines (analysts estimated a combined $ 34.43 billion in revenue and an adjusted net profit of $ 1.17 per share), the subscriber’s crucial figure is short. had. Forecasters following the company predicted 561,000. In comparison, it was around 791,000 in the fourth quarter of 2019.
There were definitely highlights in the earnings release. The company booked 92,000 net additions for its Fios consumer internet service, almost three times the number in the previous year.
Nevertheless, Verizon is clearly determined to keep the fight in mobile devices. It writes in its earnings statement that capital spending will range between $ 17.5 billion and $ 18.5 billion in 2021, specifically citing two wireless networking enhancement activities as investment targets: ‘further expansion of 5G Ultra Wideband in new and existing markets [and] the densification of the wireless network to manage future traffic requirements. “
The company also offered selected financial guidance for 2021. Service and other revenue growth must be at least 2% year-on-year; a total income estimate was not provided. Adjusted earnings per share are forecast at $ 5.00 to $ 5.15.