Shares of Verizon VZ are up 4% in premarket trading Monday, after the company said it expects $19.5 billion to $20.5 billion in free cash flow for the full year, whereas it was previously modeling $17.5 billion to $18.5 billion.

What Happened? Shares of telecommunications giant Verizon (NYSE:VZ) jumped 5.1% in the afternoon session after the company reported second-quarter earnings and raised its full-year financial guidance.

Verizon (NYSE: VZ) seems to be following in the footsteps of AT&T (NYSE: T) as the stock has been continuing on its recovery trend. VZ stock is up over 5% after revenue rose 5.2% year-over-year to $34.5 billion. Adjusted EPS hit $1.22, and both figures are above analyst consensus estimates.