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Earlier today, Verizon Communications Inc. gave its Q2 and H1 2022 results. The report now includes the results from its TracFone acquisition, which closed at the start of the year.
For Q2 2022, Verizon had an EPS of $1.24, compared to the $1.40 it got in Q2 2021. As explained in its release, the earnings from this period include a pre-tax loss of around $435 million. This includes a $198 pre-tax net charge and $237 million from the acquisition of TracFone and other brands.
Verizon Chief Financial Officer Matt Ellis said “Although recent performance did not meet our expectations, we remain confident in our long-term strategy. We believe that our assets position us well to generate long-term shareholder value.”
Here are other important numbers that Big Red reported in the call today:
Q2 2022 total consolidated operating revenue: $33.8 billion
Total wireless service revenue growth: 9.1%
Service and other revenue declined 3.9% year over year
Net income: $5.3 billion (a 10.7% decrease from Q2 2021)
H1 2022 cash flow from operating activities: $17.7 (compared to $20.4 billion in H1 2021)
Total Verizon Consumer revenue: $25.6 billion (increase of 9.1% year over year)
Q2 2022 consumer wireless retail postpaid churn: 0.93%
Fixed wireless net additions: 168,000
Postpaid phone net additions: 12,000
You can read more about the report here.
Source: Verizon
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