Verizon Communications (VZ) posted its fourth-quarter 2018 earnings before trading hours on Tuesday, Jan. 29. Total consolidated operating revenues fell 1% in the fourth quarter to $34.3 billion, narrowly missing the Street view. This quickly sent the shares down following the announcement.
Net income fell a whopping 89% to $2.1 billion. Net attributable income sunk 90% to $1.9 billion or $0.47 per diluted share. A goodwill impairment impact of $4.59 billion regarding Oath affected the bottom line in the quarter.
In the quarter, Verizon added 1.2 million retail postpaid wireless connections — 653,000 phone net additions and 873,000 postpaid smartphone net additions.
With a retail postpaid churn rate of 1.08% and retail postpaid phone churn rate of 0.82%, wireless service revenue grew 1.9%.
In Wireline, there were 54,000 Fios Internet net additions. Fios total revenue grew 2.9% year over year.
It was also during the reported quarter that the telecom giant launched its new offering — the world’s first commercial 5G broadband internet service, in some markets. The Verizon 5G Home was first offered to some parts of Houston, Indianapolis, Los Angeles, and Sacramento.
Amazon.com, Inc. (NASDAQ: AMZN) became an inspiration for other players in the eCommerce sector as the online retailer successfully channelized its resources to tap into the spike in demand for
Walmart Inc. (NYSE: WMT) reported second quarter 2023 earnings results today. Total revenue increased 8.4% year-over-year to $152.9 billion. Revenues grew 9.1% in constant currency. Consolidated net income attributable to
The evolution of the electric vehicle industry accelerated in recent years even as innovations in battery technology and affordability brought EVs into the mainstream. Encouraged by the success of market