Why Verizon Stock Recovered From Earnings Losses [Yahoo! Finance]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Yahoo! Finance
Shares are up 3% at 3:30 p.m. ET and peaked with an increase of 3.6%. But what happened between yesterday and today? Much ado about nothing After earnings were announced on Monday, shares of Verizon moved slightly higher for a short time and then plunged to about a 3% loss for the day. But the quarter wasn't all that bad. Consumer postpaid losses of 158,000 subscribers were offset by a gain of 389,000 broadband subscribers and 90,000 business phone subscribers. And the all-important wireless services revenue, which is a very high margin, was up 3.3% to $19.5 billion. Price increases implemented in the quarter were received well, according to management. That will help the company reach its $4.50 to $4.70 per share earnings guidance for the quarter. A negative turns into a positive There hasn't been any major change to Verizon's business in the last 24 hours, but investors may be trading a more macro picture for the company. Interest rates fell today after signs emerged tha
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VZ
Earnings
- 4/22/24 - Beat
VZ
Sec Filings
- 4/30/24 - Form DEFA14A
- 4/29/24 - Form 424B2
- 4/29/24 - Form 4
- VZ's page on the SEC website