Verizon Posts 1Q Earnings Beat, Stays on Track for Full-Year Outlook

By Katherine Hamilton

Verizon Communications surpassed expectations with its first-quarter earnings and said it is still on course to meet its yearly goals.

The telecommunications provider on Tuesday posted a profit of $5 billion, or $1.15 a share, in the first quarter, compared with $4.7 billion, or $1.09 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.19, ahead of the $1.15 forecast by analysts, according to FactSet.

Revenue rose 1.5%, to $33.5 billion. Analysts surveyed by FactSet forecast revenue of $33.28 billion.

Verizon's total wireless-service revenue rose 2.7% and consumer revenue rose 2.2%, while sales from its business segment were down 1.2%. It also had 339,000 net additions to its broadband business and is on track to achieve eight million to nine million fixed wireless access subscribers by 2028, it said.

The company said it remains confident in achieving its 2025 goals and full-year guidance. It still expects annual adjusted earnings to range from flat to up 3%, compared with $4.59 a share a year ago.

Write to Katherine Hamilton at katherine.hamilton@wsj.com