April 24, 2018 / 11:46 AM / 7 months ago

BRIEF-Verizon Communications Reports Q1 Earnings Per Share $1.11

April 24 (Reuters) - Verizon Communications Inc:

* Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $1.17

* VERIZON BEGINS 2018 WITH STRONG MOMENTUM

* Q1 REVENUE $31.8 BILLION VERSUS I/B/E/S VIEW $31.25 BILLION

* Q1 EARNINGS PER SHARE VIEW $1.10 -- THOMSON REUTERS I/B/E/S

* VERIZON - QTRLY WIRELINE FIOS INTERNET NET ADDITIONS 66,000 VERSUS NET ADDITIONS OF 35,000 REPORTED LAST YEAR

* VERIZON - SEES FULL-YEAR CONSOLIDATED REVENUE GROWTH AT LOW SINGLE-DIGIT PERCENTAGE RATES ON A GAAP REPORTED BASIS

* VERIZON QTRLY WIRELESS RETAIL POSTPAID CHURN WAS 1.04 PERCENT, A YEAR-OVER-YEAR IMPROVEMENT

* VERIZON - EXPECTS SERVICE REVENUE GROWTH ON A GAAP REPORTED BASIS TO TURN POSITIVE BY END OF 2018

* VERIZON - REPORTED A NET INCREASE OF 260,000 WIRELESS RETAIL POSTPAID CONNECTIONS IN FIRST-QUARTER 2018

* VERIZON - EXPECTS LOW SINGLE-DIGIT PERCENTAGE GROWTH IN ADJUSTED EPS IN 2018 BEFORE IMPACT OF TAX REFORM AND REVENUE RECOGNITION STANDARD

* VERIZON - CAPITAL SPENDING FOR 2018 WILL BE IN RANGE OF $17.0 BILLION TO $17.8 BILLION, INCLUDING COMMERCIAL LAUNCH OF 5G

* VERIZON - EXPECTED SAVINGS FROM TAX REFORM WILL GENERATE A NET $3.5 BILLION TO $4 BILLION UPLIFT TO CASH FLOW FROM OPERATIONS IN 2018

* VERIZON - QTRLY WIRELINE FIOS VIDEO LOSS OF 22,000 VERSUS LOSS OF NET OF 13,000 FIOS VIDEO CONNECTIONS

* VERIZON - FIRST-QUARTER 2018 EARNINGS INCLUDED A PRE-TAX CHARGE OF ABOUT $249 MILLION RELATED TO EARLY DEBT EXTINGUISHMENT

* VERIZON - DOES NOT PROJECT TO HAVE ANY MANDATORY PENSION CONTRIBUTIONS UNTIL ABOUT 2026

* VERIZON - Q1 2018 EARNINGS ALSO INCLUDED ABOUT $107 MILLION OF ACQUISITION AND INTEGRATION COSTS RELATED PRIMARILY TO OATH

* VERIZON - QTRLY GROSS REVENUE FOR OATH, EX. IMPACT OF REVENUE RECOGNITION STANDARD, DECREASED SEQUENTIALLY ABOUT 13 PERCENT TO $1.9 BILLION

* VERIZON - MADE A DISCRETIONARY CONTRIBUTION OF $1.0 BILLION TO IMPROVE FUNDED STATUS OF ITS PENSION PLANS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below