PR Newswire
NEW YORK, Oct. 19, 2017
NEW YORK, Oct. 19, 2017 /PRNewswire/ --
3Q 2017 highlights
Building on momentum from second-quarter 2017, Verizon Communications Inc. (NYSE, Nasdaq: VZ) delivered strong results in third-quarter 2017, both adding and retaining wireless customers, and generating significant cash flow.
Verizon reported EPS of 89 cents in the quarter, compared with 89 cents in third-quarter 2016. On an adjusted basis (non-GAAP), third-quarter 2017 EPS was 98 cents. This includes 7 cents per share in net losses primarily for early debt redemption costs, and 2 cents per share in acquisition and integration related charges in connection with Yahoo and other acquisitions. This compares with adjusted EPS of $1.01 in third-quarter 2016.
Verizon's third-quarter 2017 earnings include a 1-cent-per-share impact as a result of the natural disasters in Florida and Texas.
"Verizon Wireless delivered another quarter of profitable growth combined with strong customer loyalty," said Chairman and CEO Lowell McAdam. "This success is based on the strength of the Verizon network, and I share the pride of all Verizon employees that our network aided and served first-responders and customers when they needed it most following the recent natural disasters. While steadily investing to advance our network leadership and to build the Verizon Intelligent Edge Network, we have also maintained the financial flexibility to increase shareholder dividends for an 11th consecutive year."
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Consolidated results
Total consolidated operating revenues in third-quarter 2017 were $31.7 billion, up 2.5 percent from third-quarter 2016. On a comparable basis excluding divestitures and acquisitions (non-GAAP), consolidated revenues declined 2.3 percent.
Net income was $3.7 billion in third-quarter 2017. EBITDA (non-GAAP, earnings before interest, taxes, depreciation and amortization) totaled $11.5 billion. Consolidated operating income margin was 22.7 percent. Consolidated EBITDA margin (non-GAAP) was 36.2 percent in third-quarter 2017, compared with 33.9 percent in third-quarter 2016. Adjusted EBITDA margin (non-GAAP) was 36.7 percent and 36.5 percent in the same periods, respectively.
Verizon is focused on driving profitability through efficiencies across its business and in September announced it has targeted $10 billion in cumulative cash savings over the next four years.
Cash flow from operations totaled $17.2 billion during the first nine months of 2017, and year-to-date capital expenditures have totaled $11.3 billion.
In Verizon's media business, Oath revenues were $2 billion in third-quarter 2017, and the integration of AOL and Yahoo is ahead of internal expectations. In telematics, revenues were more than $220 million in third-quarter 2017. Organic IoT (Internet of Things) revenues (non-GAAP) increased approximately 13 percent year over year.
Wireless results
Wireline results
Network and Technology highlights
Outlook and forward-looking items
Verizon expects the following:
NOTE: See the accompanying schedules and www.verizon.com/about/investors for reconciliations to generally accepted accounting principles (GAAP) for non-GAAP financial measures cited in this document.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, has a diverse workforce of 160,100 and generated nearly $126 billion in 2016 revenues. Verizon operates America's most reliable wireless network and the nation's premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary reaches about one billion people around the world with a dynamic house of media and technology brands.
VERIZON'S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.
Forward-looking statements
In this communication we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words "anticipates," "believes," "estimates," "hopes" or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the "SEC"), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: adverse conditions in the U.S. and international economies; the effects of competition in the markets in which we operate; material changes in technology or technology substitution; disruption of our key suppliers' provisioning of products or services; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks; breaches of network or information technology security, natural disasters, terrorist attacks or acts of war or significant litigation and any resulting financial impact not covered by insurance; our high level of indebtedness; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; material adverse changes in labor matters, including labor negotiations, and any resulting financial and/or operational impact; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or treaties, or in their interpretation; changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; the inability to implement our business strategies; and the inability to realize the expected benefits of strategic transactions.
Verizon Communications Inc. | | | | | | | | |
Condensed Consolidated Statements of Income | ||||||||
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(dollars in millions, except per share amounts) | ||||||||
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| 3 Mos. Ended | 3 Mos. Ended | | | 9 Mos. Ended | 9 Mos. Ended | | |
Unaudited | 9/30/17 | 9/30/16 | % Change | | 9/30/17 | 9/30/16 | % Change | |
| | | | | | | | |
Operating Revenues | | | | | | | | |
Service revenues and other | $ 27,365 | $ 26,813 | 2.1 | | $ 79,665 | $ 81,858 | (2.7) | |
Wireless equipment revenues | 4,352 | 4,124 | 5.5 | | 12,414 | 11,782 | 5.4 | |
Total Operating Revenues | 31,717 | 30,937 | 2.5 | | 92,079 | 93,640 | (1.7) | |
| | | | | | | | |
Operating Expenses | | | | | | | | |
Cost of services | 7,640 | 6,989 | 9.3 | | 21,573 | 22,180 | (2.7) | |
Wireless cost of equipment | 4,965 | 5,240 | (5.2) | | 14,808 | 14,882 | (0.5) | |
Selling, general and administrative expense | 7,632 | 8,226 | (7.2) | | 20,579 | 25,601 | (19.6) | |
Depreciation and amortization expense | 4,272 | 3,942 | 8.4 | | 12,498 | 11,941 | 4.7 | |
Total Operating Expenses | 24,509 | 24,397 | 0.5 | | 69,458 | 74,604 | (6.9) | |
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Operating Income | 7,208 | 6,540 Werbung Mehr Nachrichten zur Verizon Communications Inc Aktie kostenlos abonnieren
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