Investing.com – Shares in Verizon rose in pre-market trade on Tuesday as the firm reported better-than-expected second quarter results.
The firm reported adjusted earnings per share of $1.20 in the April to June period.
Analysts had forecast $1.14 per share.
Meanwhile, the company’s reported a 5.4% increase in total consolidated operating revenues to $32.2 billion.
The firm did explain that, on a comparable basis excluding the impacts of Oath, divested businesses and the revenue recognition standard (non-GAAP), consolidated revenues were $30.2 billion, up approximately 2.6%.
Analysts had forecast revenues of $31.73 billion.
CEO Lowell McAdam, Verizon’s chairman and chief executive officer, stated that the company was well-positioned for the future.
“Our financial and operating results for the first half of 2018 were strong, as evidenced by service revenue, earnings and operating cash flow growth delivered in a highly competitive marketplace,” he explained.
For 2018, the company said it expected full-year consolidated revenue growth at low-to-mid single-digit percentage rates on a GAAP reported basis.
“This update to full-year guidance is due to better-than-expected equipment revenue trends,” the press release said.
At 7:37 AM ET (11:37 GMT), shares in Verizon (NYSE:VZ) gained 2.36% to $51.95, compared to the previous closing price of $50.75.
Traders will now turn their attention to the firm’s conference call due to start at 8:30 AM ET (14:30GMT).