News
James B. Bell
- August 14, 2023
Earnings Expectations
According to a FactSet poll of analysts' estimates, Verizon is projected to report earnings of $1.17 per share on revenue of $33.30 billion. In the same period last year, Verizon reported earnings of $1.31 per share on revenue of $33.79 billion.
Lead-Sheathed Cable Risks
A recent report by The Wall Street Journal highlighted the presence of thousands of miles of copper cables wrapped in lead, raising concerns about potential lead contamination in the surrounding environment. Verizon, along with other telecoms companies that own copper networks, could face significant costs for cable removal and potential lawsuits regarding environmental and health risks.
Although Verizon's stock initially faced a decline after the publication of The Wall Street Journal report, analysts have suggested that the drop was an overreaction and overstated the potential costs faced by the company.
Verizon recently streamlined its range of unlimited mobile plans from six to two and now offers other services as optional add-ons rather than bundled options. This change aims to simplify the range of plans and reduce customer confusion.
Related Articles
tinyBuild Revenue Forecast Falls Short
Shares of tinyBuild fall as they project lower-than-expected revenue. The company plans to reduce costs and consider a future equity fundraise.
Inflation in Turkey Surges in July
Inflation in Turkey surges in July, posing challenges for central bank's efforts to control prices. Food prices experience sharpest increase.
Comerica Inc. Reports Q3 Financial Results
Comerica Inc. reports a 28% decrease in net income in the third quarter but exceeds expectations. The bank showcases strategic balance sheet management.