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Verizon Communications Inc (VZ)

VZ on New York Consolidated

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22 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Verizon Q4 Adj. EPS $0.86
7:00am EST 

Jan 23 (Reuters) - Verizon Communications Inc ::Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.86 EXCLUDING ITEMS.Q4 REVENUE $34 BILLION VERSUS I/B/E/S VIEW $33.29 BILLION.Q4 EARNINGS PER SHARE VIEW $0.88 -- THOMSON REUTERS I/B/E/S.QTRLY EARNINGS PER SHARE ‍$4.56​.TAX-REFORM LEGISLATION WILL HAVE A POSITIVE IMPACT TO CASH FLOW FROM OPERATIONS IN 2018 OF ABOUT $3.5 BILLION TO $4 BILLION.WILL ALSO BE INCREASING CONTRIBUTIONS TO VERIZON FOUNDATION BY $200 MILLION TO $300 MILLION OVER NEXT TWO YEARS​.‍FOURTH-QUARTER 2017 ADJUSTED EPS INCLUDED A NET PRE-TAX LOSS FROM SPECIAL ITEMS OF ABOUT $2.6 BILLION​.CUMULATIVE NET IMPACT FROM ITEMS, AFTER TAX, WAS APPROXIMATELY $15.2 BILLION, OR $3.71 PER SHARE, IN FOURTH-QUARTER 2017​.QTRLY WIRELESS RETAIL POSTPAID NET ADDITIONS ‍1.2 MILLION​ VERSUS 591,000 REPORTED LAST YEAR.QTRLY WIRELESS RETAIL POSTPAID CHURN ‍1.00​ PERCENT VERSUS 1.10 PERCENT REPORTED LAST YEAR.SEES ‍FULL-YEAR 2018 CONSOLIDATED REVENUES WILL GROW AT LOW-SINGLE-DIGIT PERCENTAGE RATES ON A GAAP BASIS​.ON A GAAP BASIS, VERIZON EXPECTS SERVICE REVENUE GROWTH TO TURN POSITIVE AROUND END OF 2018 OR EARLY 2019​.SEES FOR 2018, LOW SINGLE-DIGIT PERCENTAGE GROWTH IN ADJUSTED EPS​.CAPITAL SPENDING FOR 2018 WILL BE IN RANGE OF $17.0 BILLION TO $17.8 BILLION, INCLUDING COMMERCIAL LAUNCH OF 5G​.EXPECTED SAVINGS FROM TAX REFORM EXPECTED TO YIELD A 55 TO 65 CENT INCREASE IN 2018 EPS,NET OF IMPACTS FROM EMPLOYEE, FOUNDATION INITIATIVES​.  Full Article

Verizon Estimates About $4.10 Impact To EPS From TCJA
Wednesday, 17 Jan 2018 04:50pm EST 

Jan 17 (Reuters) - Verizon Communications Inc ::VERIZON - ESTIMATES ENACTMENT OF TCJA WILL RESULT IN A ONE-TIME REDUCTION IN NET DEFERRED INCOME TAX LIABILITIES OF ABOUT $16.8 BILLION.VERIZON - FOR YEAR ENDING DEC. 31, 2017, IMPACT OF TCJA TO CO'S EARNINGS PER SHARE IS ESTIMATED TO BE ABOUT $4.10.VERIZON - IMPACT FROM ENACTMENT OF TCJA TO BE REFLECTED IN INCOME FROM CONTINUING OPERATIONS WHICH WILL INCREASE EARNINGS FOR Q4, YEAR ENDING DEC 31, 2017‍​.VERIZON - ADOPTION OF NEW ACCOUNTING STANDARD WILL HAVE A SIGNIFICANT IMPACT ON 2018 OPERATING RESULTS.VERIZON - DURING Q1 2018, WILL RECORD A CUMULATIVE ADJUSTMENT TO RETAINED EARNINGS DUE TO ADOPTION OF NEW ACCOUNTING STANDARD.VERIZON - ESTIMATE IMPACT FROM NEW ACCOUNTING STANDARDS ON 2018 PRETAX RETAINED EARNINGS INCREASE BY $4.0 BILLION - $4.6‍​ BILLION.VERIZON - FOR YEAR ENDING DEC 31, 2017, IMPACT OF TCJA TO VERIZON’S EARNINGS PER SHARE IS ESTIMATED TO BE APPROXIMATELY $4.10‍​.VERIZON -SEES OVERALL IMPACT FROM OPENING BALANCE SHEET ADJUSTMENT,ONGOING IMPACT FROM NEW CONTRACTS TO RESULT IN INSIGNIFICANT CHANGE TO 2018 REVENUE.VERIZON - AT PRESENT, DO NOT ESTIMATE ANY MATERIAL IMPACTS FROM EITHER REPATRIATION TAX OR IMPLEMENTATION OF TERRITORIAL TAX SYSTEM‍​.  Full Article

Verizon Says Acquired Privately Held Niddel Corp
Friday, 5 Jan 2018 02:24pm EST 

Jan 5 (Reuters) - Verizon Communications Inc ::VERIZON SAYS ACQUIRED PRIVATELY HELD NIDDEL CORP; TERMS OF TRANSACTION WERE NOT ANNOUNCED‍​.  Full Article

Verizon And A+E Networks Expand Partnership
Wednesday, 3 Jan 2018 10:30am EST 

Jan 3 (Reuters) - Verizon Communications Inc ::VERIZON AND A+E NETWORKS® EXPAND PARTNERSHIP ACROSS VERIZON’S FAMILY OF MEDIA BRANDS.VERIZON - ‍ PARTNERSHIP WILL INCLUDE FIRST WINDOW RIGHTS FOR CONTENT FROM 45(TH) & DEAN, A+E NETWORKS' DIGITAL ENTITY​.  Full Article

Teresa Elder Joins WideOpenWest As CEO
Thursday, 14 Dec 2017 08:30am EST 

Dec 14 (Reuters) - WideOpenWest Inc ::TERESA ELDER JOINS WIDEOPENWEST AS CEO.WIDEOPENWEST INC- AUTHORIZED A STOCK REPURCHASE PROGRAM, COMMENCING IMMEDIATELY, TO REPURCHASE AN AGGREGATE OF $50 MILLION OF COMMON STOCK.WIDEOPENWEST INC - ELDER SUCCEEDS STEVEN COCHRAN, WHO IS RETIRING FROM CO.WIDEOPENWEST INC- ELDER SUCCEEDS STEVEN COCHRAN.WIDEOPENWEST INC - COCHRAN WILL STAY ON IN AN ADVISORY ROLE WITH CO THROUGH JUNE 30, 2018.WIDEOPENWEST INC - REPURCHASE PROGRAM IS EXPECTED TO BE EXECUTED OVER NEXT TWELVE MONTHS.WIDEOPENWEST - CO, VERIZON ENTERED NEW CONSTRUCTION AGREEMENT PURSUANT TO WHICH CO TO COMPLETE BUILD-OUT OF NETWORK IN EXCHANGE FOR ABOUT $50 MILLION.WIDEOPENWEST SAYS FINAL BUILD-OUT OF NETWORK IS EXPECTED TO BE COMPLETED DURING H2 2018.  Full Article

Verizon Awards 5G Contract To Ericsson
Monday, 11 Dec 2017 02:32pm EST 

Dec 11 (Reuters) - Telefonaktiebolaget Lm Ericsson ::VERIZON AWARDS 5G CONTRACT TO ERICSSON.ERICSSON - VERIZON HAS SELECTED CO TO PROVIDE NETWORKING EQUIPMENT FOR THEIR COMMERCIAL 5G LAUNCH.ERICSSON - VERIZON WILL DEPLOY PRE-STANDARD 5G COMMERCIAL RADIO NETWORK AND 5G CORE NETWORK IN SELECT MARKETS IN SECOND HALF OF 2018.  Full Article

NFL And Verizon Announce Partnership To Distribute Mobile Access To Live NFL Games
Monday, 11 Dec 2017 08:00am EST 

Dec 11 (Reuters) - Verizon Communications Inc ::NFL AND VERIZON ANNOUNCE GAME-CHANGING PARTNERSHIP TO DISTRIBUTE UNPRECEDENTED MOBILE ACCESS TO LIVE NFL GAMES.VERIZON - PARTNERSHIP TO START IN JAN. 2018 WITH STREAMING OF NFL PLAYOFFS ON YAHOO, YAHOO SPORTS, IN ADDITION TO GO90 AND NFL MOBILE APP.VERIZON - CO WILL CONTINUE TO BE AN OFFICIAL SPONSOR OF NFL.  Full Article

Verizon - Customers In Southern California Areas Hardest Hit By Wildfires Will Be Offered Free Unlimited Talk, Text And Data from Dec 7-Dec 10
Thursday, 7 Dec 2017 07:02pm EST 

Dec 7 (Reuters) - Verizon Communications Inc ::VERIZON -CUSTOMERS IN SOUTHERN CALIFORNIA AREAS HARDEST HIT BY WILDFIRES WILL BE OFFERED FREE UNLIMITED TALK, TEXT AND DATA FROM DEC 7 THROUGH DEC 10​.  Full Article

Verizon Communications Sets Quarterly Dividend Of $0.59 Per Share
Thursday, 7 Dec 2017 12:34pm EST 

Dec 7 (Reuters) - Verizon Communications Inc ::SETS QUARTERLY DIVIDEND OF $0.59 PER SHARE.  Full Article

Wex Inc Announced Three-Year Fleet Card Contract With Verizon
Tuesday, 5 Dec 2017 06:30am EST 

Dec 5 (Reuters) - WEX Inc ::WEX INC - ANNOUNCED THREE-YEAR FLEET CARD CONTRACT WITH VERIZON.  Full Article

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Verizon quarterly profit jumps, helped by tax reform

NEW YORK Verizon Communications Inc on Tuesday reported a jump in quarterly profit, helped by tax reform and the addition of phone subscribers.