Verizon (NYSE:VZ) shares rose 4% today after the telecom giant reported second-quarter results that topped expectations and raised the lower end of its full-year earnings guidance, driven by strong wireless service demand and solid uptake of premium plans.
The company now expects adjusted earnings per share to grow between 1% and 3% for the year, narrowing and lifting the previous forecast of 0% to 3%. Verizon also raised its core profit guidance, projecting adjusted EBITDA growth of 2.5% to 3.5%, compared to the prior range of 2% to 3.5%.
For the second quarter, adjusted EBITDA increased 4.1% year-over-year to $12.8 billion, surpassing consensus estimates of $12.67 billion. Total operating revenue rose 5.2% to $34.5 billion, beating the expected $33.76 billion.
Wireless service revenue climbed 2.2% to $20.9 billion, driven by customers opting for higher-tier plans that bundle in features like streaming services. The results reflect Verizon’s ongoing strategy to enhance revenue through premium offerings and customer retention, providing a boost to both top-line growth and profitability.
