2023-01-24 12:00:11

Strong wireless service revenue growth highlights Verizon's 4Q and 2022 results

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Benzinga
By Globe Newswire

2022 highlights

Consolidated:

  • Full-year 2022 earnings per share (EPS) of $5.06, compared with $5.32 in 2021; adjusted EPS1, excluding special items, of $5.18, compared with 2021 adjusted EPS1 2 of $5.50.
  • Total operating revenue of $136.8 billion in full-year 2022, up 2.4 percent year over year.

4Q 2022 highlights

Consolidated:

  • $1.56 in EPS, compared with $1.11 in fourth-quarter 2021; adjusted EPS1, excluding special items, of $1.19, compared with $1.33 in fourth-quarter 20212.
  • Total operating revenue of $35.3 billion, an increase of 3.5 percent from fourth-quarter 2021.
  • Net income of $6.7 billion, an increase of 41.4 percent from fourth-quarter 2021, and adjusted EBITDA1 of $11.7 billion, down 0.2 percent year over year.

Total Wireless:

  • Total wireless service revenue5 of $18.8 billion, a 5.9 percent increase year over year.
  • Postpaid phone net additions3 of 217,000, and retail postpaid net additions3 of 1,434,000, which was the best single quarter performance in seven years. Full-year 2022 retail postpaid net additions3 were 2,605,000, an increase of 23.2 percent from full-year 2021. This success was driven by strong fixed wireless momentum, tablet and wearables adoption and sequential improvement in phone net additions.
  • Total retail postpaid churn3 of 1.14 percent, and retail postpaid phone churn3 of 0.89 percent.

Total Broadband:

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