Verizon (VZ) Dips Following Tepid Q1 Results; Sales Remain Flat
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Price: $49.45 +0.53%
Financial Fact:
Net income (loss) attributable to Verizon: 0.89
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Net income (loss) attributable to Verizon: 0.89
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Verizon Communications Inc. (NYSE: VZ) shares are trading slightly lower Thursday morning following first-quarter earnings from the wireless and wireline communications giant.
Net income for the New York, NY-based company was $3.264 billion, or $0.51 per share, a 40.8 percent increase from $2.318 billion reported in the first quarter of last year.
Revenues in the quarter grew modestly, just 0.2 percent, to $26.99 billion.
Analysts were looking for EPS of $0.50 paired with revenue of $26.89 billion.
Cash flow fell nearly 31 percent to $5 billion.
Verizon added 1.78 million net subscribers over the quarter, slightly behind the 2 million AT&T (NYSE: T) picked-up in its latest quarter, bringing total subs to 104 million. Data sales were $5.5 billion, an increase of 22.3 percent from the first quarter of 2010. Retail postpaid churn was 1.01 percent, and total retail churn was 1.33 percent.
Wireline saw a 10.5 percent increase in ARPU.
FiOS connections increased 33.7 percent to 559 million.
Verizon shares are down 2 percent to $37.05 Thursday.
Net income for the New York, NY-based company was $3.264 billion, or $0.51 per share, a 40.8 percent increase from $2.318 billion reported in the first quarter of last year.
Revenues in the quarter grew modestly, just 0.2 percent, to $26.99 billion.
Analysts were looking for EPS of $0.50 paired with revenue of $26.89 billion.
Cash flow fell nearly 31 percent to $5 billion.
Verizon added 1.78 million net subscribers over the quarter, slightly behind the 2 million AT&T (NYSE: T) picked-up in its latest quarter, bringing total subs to 104 million. Data sales were $5.5 billion, an increase of 22.3 percent from the first quarter of 2010. Retail postpaid churn was 1.01 percent, and total retail churn was 1.33 percent.
Wireline saw a 10.5 percent increase in ARPU.
FiOS connections increased 33.7 percent to 559 million.
Verizon shares are down 2 percent to $37.05 Thursday.
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