Analyst Note| Michael Hodel, CFA |
Verizon Communications posted solid second-quarter results, with customer metrics rebounding largely as expected from a soft start to the year. Revenue growth benefited from an easy comparison versus the worst of the pandemic impact a year ago and a step up in wireless customer retention efforts during the quarter. Management increased its wireless service revenue growth forecast for the full year, but Verizon continues to generally track our expectations. We don’t expect to materially change our $57 fair value estimate.