Verizon Communications Inc. (NYSE:VZ) stock fell 1.59% (As on Jan 26, 11:22:44 AM UTC-4, Source: Google Finance) after the company beaten the analysts estimates for the fourth quarter of FY 21. The company has added more wireless subscribers that pay a monthly bill than expected during the fourth quarter as the telecom operator’s rapid deployment of its 5G services roped in more customers. The company added 558,000 subscribers in the quarter ended Dec. 31, above the average estimate of 546,400 from research firm FactSet. In fourth-quarter 2021, Consumer reported 667,000 wireless retail postpaid net additions. This consisted of 336,000 phone net additions and 369,000 other connected device net additions, offset by 38,000 tablet net losses. Consumer also reported 85,000 wireless prepaid net losses, which included TracFone results since November 23. Consumer reported 51,000 Fios Internet net additions in fourth-quarter 2021, and 339,000 Fios Internet net additions in full-year 2021. Consumer Fios revenues were $2.9 billion in fourth-quarter 2021, an increase of 5.6 percent year over year.

Moreover, the total Verizon Consumer revenues were $25.7 billion in fourth-quarter 2021, an increase of 7.4 percent year over year. This included the net revenue change from TracFone of approximately $700 million, including approximately $500 million of incremental service revenue year over year. Consumer wireless service revenues were $14.6 billion in fourth-quarter 2021, a 7.7 percent increase year over year, reflecting ongoing step-ups to unlimited and premium unlimited plans, and the contribution from TracFone.

VZ in the fourth quarter of FY 21 has reported the adjusted earnings per share of $1.31, beating the analysts’ estimates for the adjusted earnings per share of $1.28. The company had reported the adjusted revenue of $34.07 billion in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $33.83 billion.

Verizon expects full-year earnings to be in the range of $5.40 to $5.55 per share. For fiscal 2022, the company expects organic service and other revenue growth to be around 3 percent. On a reported basis, which includes the net impact of the sale of Verizon Media and the company’s ownership of TracFone, service and other revenue growth is expected to be in a range of 1.0 percent and 1.5 percent. The company reported wireless service revenue growth in the range of 9 percent to 10 percent. Excluding the impact of the TracFone acquisition, wireless service revenue is expected to grow at least 3 percent. 2022 Adjusted EBITDA growth is expected to be in the range of 2 percent to 3 percent.