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Stock Alert: Verizon Communications

Wireless telecommunication service provider Verizon Communications Inc. (VZ) is scheduled to report its first- quarter results today, April 24, before the market open.

Last week Verizon said, it has agreed to buy Blue Jeans Network, a cloud-based video conferencing services provider, for less than $500 million. This is a value addition to the company's customers as more people are using video conferencing platforms during the coronavirus imposed lockdown period.

On average, 23 analysts polled by Thomson Reuters see earnings of $1.23 per share on revenue of $32.4 billion in the first quarter.

Excluding the last quarter, Verizon's earnings had surpassed the Street view in all the other quarters, last year.

Last quarter, earnings of $1.13 missed average estimate of 22 analysts at $1.14. Revenue for the quarter, however, increased 1.4% year-over-year to $34.775 billion, driven by continued customer growth.

The company saw the highest fourth-quarter wireless additions in the last quarter at 1.2 million postpaid net additions.

Verizon stock has risen nearly 20% from its 52 week low of $48.84 hit on March 25. It had recorded a 52-week high of $62.22 December last year.

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