Verizon Communications Inc Reports Second Quarter Earnings

Verizon Communications Inc has released its second quarter earnings, reporting revenue growth of 5.2% year-over-year. This growth is attributed to solid performance in wireless and broadband services.

• Revenue growth was driven by:
  • 6.9% increase in consumer revenue
  • Strong performance in wireless services
  • Solid growth in broadband services
• Net income reached $5.1 billion
• The company has raised its guidance for:
  • Free cash flow
  • Earnings per share

The stock price has responded positively to the news, with the company’s shares trading higher. This is part of a mixed performance in the US stock market, where the S&P 500 and Dow Jones Industrial Average closed at fresh record highs.