logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT