Verizon rises after raising annual profit forecast
VZ•Verizon raises profit and free cash flow outlook
Shares of U.S. wireless carrier Verizon Communications VZ.N rose 3.8% to $45.36 in premarket trading after the company raised its annual adjusted EPS and free cash flow forecasts.
Verizon added 184,000 postpaid phone subscribers in the second quarter, topping an estimate of 103,900, according to FactSet data.
The company now expects annual adjusted EPS of $4.99 to $5.04, compared with its prior forecast of $4.95 to $4.99.
Second-quarter revenue of $34.3 billion missed the estimate of $35.16 billion, while adjusted EPS of $1.30 beat the estimate of $1.27, according to data compiled by LSEG.
