Verizon Communications Inc.(VZ - Free Report) is the largest telecom operator in the U.S. providing high-end wireless and wireline services to individuals, business enterprises and government agencies.
The U.S. telecom industry is facing severe competitive pressure at present. Aggressive pricing competition and higher promotional activities are likely to hurt the company’s financial results. Verizon has predicted flat year-over-year earnings for 2016 as it does not see enough variables to deliver growth in the coming year. However, the company expects to return to growth trajectory starting 2017.
Verizon is presently focusing on online content delivery, mobile video and online advertising for growth. In this regard, the acquisition of AOL and Millennium Media and the launch of its new mobile video service named “Go90” should generate significant revenues for the company in the quarter. Moreover, with the intention to integrate its AOL and Millennium Media assets, Verizon agreed a deal to purchase Yahoo! Inc.‘s core assets for $4.8 billion.
Verizon currently carries a Zacks Rank #3 (Hold). The company has generated a positive average earnings surprise of 1.52% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The Company beats first quarter earnings. Our consensus called for EPS of 93 cents while the company reported EPS of 94 cents.
Revenue: Verizon reported total revenue of $30,532 million missing the Zacks Consensus Estimate of $31,117 million.
Key States to Note: In the reported quarter, Verizon added 0.615 million retail postpaid connections. Retail postpaid churn increased to 0.94% from 0.90% in the prior-year quarter. At the end of second quarter, Verizon had 113.154 million retail connections, up 3.3% year over year.
Check back later for our full write up on this Verizon earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Verizon Communications Inc.(VZ - Free Report) is the largest telecom operator in the U.S. providing high-end wireless and wireline services to individuals, business enterprises and government agencies.
The U.S. telecom industry is facing severe competitive pressure at present. Aggressive pricing competition and higher promotional activities are likely to hurt the company’s financial results. Verizon has predicted flat year-over-year earnings for 2016 as it does not see enough variables to deliver growth in the coming year. However, the company expects to return to growth trajectory starting 2017.
Verizon is presently focusing on online content delivery, mobile video and online advertising for growth. In this regard, the acquisition of AOL and Millennium Media and the launch of its new mobile video service named “Go90” should generate significant revenues for the company in the quarter. Moreover, with the intention to integrate its AOL and Millennium Media assets, Verizon agreed a deal to purchase Yahoo! Inc.‘s core assets for $4.8 billion.
Verizon currently carries a Zacks Rank #3 (Hold). The company has generated a positive average earnings surprise of 1.52% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The Company beats first quarter earnings. Our consensus called for EPS of 93 cents while the company reported EPS of 94 cents.
Revenue: Verizon reported total revenue of $30,532 million missing the Zacks Consensus Estimate of $31,117 million.
Key States to Note: In the reported quarter, Verizon added 0.615 million retail postpaid connections. Retail postpaid churn increased to 0.94% from 0.90% in the prior-year quarter. At the end of second quarter, Verizon had 113.154 million retail connections, up 3.3% year over year.
Check back later for our full write up on this Verizon earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on VZ - FREE