Verizon Is Best Performing Dow Stock, Up 12% in 2016

Telecom & Wireless

Published: March 5, 2016 9:25 am

Last Updated: January 13, 2020 12:21 pm

Despite a recent recovery to over 17,000, the Dow Jones Industrial Average is down 2.4% for the year so far to 17,006.77. Against that trend, Verizon Communications Inc. (NYSE: VZ) has risen 12.09% to $51.81 per share, the best among the 30 stocks that comprise the index.

Verizon has several financial and business model advantages over most large companies. The argument is bolstered by the performance of its only major, direct rival, AT&T Inc. (NYSE: T), the shares of which have risen 10.23% since the start of the year to $37.93. The two companies are often described as mirror images of one another. Wall Street continues to warm to both.

Verizon had revenue of $131.6 billion last year, making it one of the largest companies in America. The figure was higher by 3.6%. Net income for 2015 was $18.4 billion, up 54%.
Announcing full-year results, Chairman and CEO Lowell McAdam said:

In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders. At the same time, Verizon built and acquired next-generation network capabilities that position the company to be an innovator in the digital-first mobile world in 2016 and beyond.