Telecom giant Verizon Communications (NYSE: VZ) reported a decline in second-quarter revenues, reflecting the disruption caused by the pandemic. Consequently, earnings decreased 4% annually but came in above the market’s forecast.
Operating revenues dropped 5.1% annually to $30.4 billion, which was slightly above the consensus estimate. Adjusted earnings declined to $1.18 per share from $1.23 per share in the second quarter of 2020. Unadjusted profit was $1.13 per share, up from $0.95 per share recorded a year earlier.
Verizon’s stock made modest gains early Friday following the announcement. It had closed the last trading session slightly higher.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard