Verizon: additional phone customers propel strong quarter
(CercleFinance.com) - Verizon said it delivered a "strong operational performance" in the second quarter as the carrier managed to add new wireless subscribers.
The US telecommunications giant reported quarterly EPS of 1.13 dollar, compared with 0.95 dollar one year earlier.
Excluding extraordinary items, and on an adjusted basis, Q2 EPS was 1.18 dollar, down from 1.23 dollar a year ago.
The company said adjusted EPS included approximately 14 cents of Covid-19-related net impacts, primarily driven by lower wireless service revenue and lower advertising and search revenue from its media unit.
Indeed, total wireless service revenue fell by 1.7% to 15.9 billion dollars in the past quarter.
However, Verizon said it gained 352,000 retail postpaid net customers, including 287,000 smartphone net additions, which prompted a slight raise in its shares in pre-market trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The US telecommunications giant reported quarterly EPS of 1.13 dollar, compared with 0.95 dollar one year earlier.
Excluding extraordinary items, and on an adjusted basis, Q2 EPS was 1.18 dollar, down from 1.23 dollar a year ago.
The company said adjusted EPS included approximately 14 cents of Covid-19-related net impacts, primarily driven by lower wireless service revenue and lower advertising and search revenue from its media unit.
Indeed, total wireless service revenue fell by 1.7% to 15.9 billion dollars in the past quarter.
However, Verizon said it gained 352,000 retail postpaid net customers, including 287,000 smartphone net additions, which prompted a slight raise in its shares in pre-market trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.