📉 Verizon shares fall after earnings announcement! 📉
Verizon Communications $VZ is an American telecommunications services provider headquartered in New York City. It focuses primarily on providing mobile, fixed and broadband services to both residential and business customers. Verizon is known for its cutting-edge infrastructure and technological innovations that put it at the forefront of the digital world. With a focus on premium quality of service and a constant search for new opportunities, Verizon is a key player in the telecommunications market.
Shares Verizon are falling after the company reported continued customer attrition and revenue declines.
According to a statement on Monday ,Verizon reported earnings per share of$1.15, beating analysts' expectations. However, operating income did not beat Wall Street forecasts , which remained at $33 billion, only about 0,2 % higher than the previous year.
Verizon has tried to reverse the decline in customers by offering premium plans, but it looks like this strategy is not entirely successful. The company lost 158,000 retail wireless customers in the first quarter of this year, which was less than the 212,900 expected . However, total wireless service revenue increased by 3,3 % to $19.5 billion.
Fixed wireless Verizon's is booming. Total broadband additions were 437 000, the most in more than a decade. The service, which offers Internet speeds comparable to cable, is becoming increasingly popular. 📶
Verizon currently has a solid dividend yield 6,8 %. It strikes me as a very interesting player in the telecom market.
What do you think of this company?
I also follow the company, it's great that they are trying to innovate and how technology is changing, but the question is, can they handle the change and the competition, the loss of customers is a pretty unpleasant thing.
For me, a great company and I see the stock is at a pretty nice price. I'll check it out, thanks for the info.