Categories AlphaGraphs, Technology
Verizon (VZ) Q2 revenue down 5%; earnings drop but beat estimates
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.
Related: Verizon Q2 2020 Earnings Call Transcript
Verizon’s stock made modest gains early Friday following the announcement. It had closed the last trading session slightly higher.
Most Popular
IPO News: Monte Rosa Therapeutics will go public this week, here are a few things to know
Biotechnology company Monte Rosa Therapeutics is slated to go public this week. In a pandemic-ridden world, this industry is expanding at a healthy pace. The global biotechnology market is estimated
IPO News: What to look for when Elevation Oncology makes its Wall Street debut
The healthcare sector is going through a phase of consolidation, creating fresh opportunities for emerging companies in a market that is slowly recovering from the pandemic. Several pharmaceuticals firms have
American Airlines (AAL): Here’s what may or may not work for this airline stock
Shares of American Airlines Group (NASDAQ: AAL) have gained 42% since the beginning of this year and 50% over the past 12 months. Despite this, there is a mixed sentiment
