Article Hero

Verizon had a solid Q3

1603370952.jpg
ميغيل رودريغيز
ميغيل رودريغيز
22 أكتوبر 2020
Verizon tops estimates for Q3 earnings.

Somehow, the #pandemic proved to be beneficial for Verizon’s revenues despite the fact that they reported a loss. The figures fell 4.1% to $31.54 billion, marking an improvement from the 5.1% previously touted. The progress was because more customers were attracted to its new wireless services. 

Verizon's media unit (Yahoo, HuffPost, and TechCrunch) fell 7.4% to $1.7 billion, as the companies cut down on advertising.

The quarterly #earnings per share came higher than the $1.22 expected at $1.25.

In Q3, Verizon gained 417,000 business accounts. Overall, the number of net subscribers increased by 553,000, topping by more than twice the consensus.

For the full year, Verizon expects the EPS to come up to 2% higher than last year’s figures.

Following the report, Verizon stock price gained 1.9%. Since the beginning of the year, the company’s stock price lost 6%, while USA500 went up 6.6%.

Stay updated with the latest news by checking our Market News!

Sources: cnbc.com, investing.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

ميغيل رودريغيز
ميغيل رودريغيز
financial_writer

بدأ ميغيل مسيرته المهنية الطويلة في مؤسسات مالية مرموقة مثل Banco Santander و Banco Central-Hispano.وهو مؤلف لكتب تداول العملات.