5 Stocks Gaining Attention After Posting Earnings Reports

2. Verizon Communications Inc. (NYSE:VZ)

Number of Hedge Fund Holders: 57

Shares of Verizon Communications Inc. (NYSE:VZ) slightly moved up in the pre-market trading session on Tuesday, January 25, 2022, after beating profit and sales expectations for the fourth quarter.

Verizon Communications Inc. (NYSE:VZ) earned $1.31 per share on an adjusted basis, up from $1.21 per share in the year-ago quarter. Revenue came in at $34.1 billion, down nearly two percent from the comparable period of 2020. The results surpassed analysts’ average estimate of $1.29 per share for earnings and $33.9 billion for revenue.

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The company also issued its financial outlook for 2022. Verizon Communications Inc. (NYSE:VZ) expects adjusted earnings in the range of $5.40 – $5.55 per share for the full year.

Commenting on the quarter, CFO of Verizon Communications Inc. (NYSE:VZ), Matt Ellis, said:

“Our financial discipline enabled us to deliver attractive service revenue growth and profitability this quarter as we expanded our portfolio with the TracFone acquisition and saw strong demand for our products and services. In 2021 we delivered on raised adjusted EPS* expectations, grew revenue, achieved our $10 billion cost savings goal, and funded our C-Band spectrum investment.”