(RTTNews) - Verizon Communications Inc. (VZ) issued an updated guidance for the full year. Adjusted EBITDA growth is now projected in a range of 2.5% to 3.5%, revised from prior outlook range of 2.0% —3.5%. Adjusted EPS growth is now projected in a range of 1.0% to 3.0%. Previously, the company anticipated adjusted EPS growth of flat —3.0%. For 2025, Verizon continues to expect total wireless service revenue growth of 2.0 percent to 2.8 percent. The company said its revised outlook reflects financial strength and tax reform passage.
Second-quarter net income increased to $5.12 billion from $4.70 billion, prior year. EPS was $1.18 compared to $1.09. Adjusted EPS was $1.22 compared to $1.15. Analysts on average had expected the company to earn $1.20 per share. Analysts' estimates typically exclude special items. Adjusted EBITDA was $12.8 billion, an increase of 4.1%. Wireless service revenue was $20.9 billion, up 2.2% from prior year. Total revenue was $34.5 billion, up 5.2%.
Shares of Verizon are up 4% in pre-market trade on Monday.
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