- Strong secondquarter 2019 results highlighted by an increase in net wireless customer additions, continued customer loyalty and industry-leading wireless products and services.
- Verizon reported EPS of 95 cents, compared with $1.00 in secondquarter 2018. On an adjusted basis (non-GAAP), second-quarter 2019 EPS, excluding a special item,
was $1.23, compared with adjusted EPS of $1.20 in second-quarter 2018.
- Total consolidated operating revenues in second-quarter 2019 were $32.1 billion, down 0.4
percent from second-quarter 2018.
- Cash flow from operations totaled $15.8 billion in second-quarter 2019, a decline of
approximately $600 million year over year.
- Net income was $4.1 billion in second-quarter 2019. EBITDA (non-GAAP, earnings before
interest, taxes, depreciation and amortization) totaled approximately $10.8 billion. Consolidated operating income margin was 24.5 percent in second-quarter 2019, compared with 20.5 percent in second-quarter
- Consolidated EBITDA margin (non-GAAP) was 33.5 percent in second-quarter 2019, compared with 34.5 percent in second-quarter 2018. Adjusted EBITDA margin (non-GAAP) in second-quarter 2019 was 37.7 percent. Consolidated adjusted EBITDA (non-GAAP) in second-quarter 2019 was $12.1 billion, an increase of approximately $200 million year over year.
Outlook and guidance
- Low single-digit percentage growth in adjusted 2019 EPS, excluding the impact of the lease
- Low single-digit percentage growth in full-year consolidated revenues on a GAAP reported basis.
- Cash taxes to be $2 billion to $3 billion higher than in 2018 due to benefits that were realized in
2018 that are not expected to repeat in 2019.
- Capital spending for 2019 to be in the range of $17 billion to $18 billion, including the expanded
commercial launch of 5G.
The company now expects the adjusted effective income tax rate (non-GAAP) for full-year 2019 to be at the lower end of its previously disclosed range of 24 percent to 26 percent.