Verizon Chief Financial Officer Matt Ellis said on the company’s call that more than 80% of customers who took the pledge were still making payments and that he expected “the vast majority” of them to still be customers in a year.
ET By using this site you agree to the Nio's shares have rallied nearly 400% in the past three months as the S&P 500 has added 15%. Nio intends to use the proceeds from the offering " mainly to increase the share capital of and the company's ownership in Nio China," as well as to repurchase equity interests held by some minority shareholders of the Nio China business and conduct research research into autonomous-driving technology. Through certain links on this site, Grizzle may be compensated by third-party advertisers.
Emily Bary is a MarketWatch reporter based in New York. In particular, Verizon’s Verizon reported its second quarter earnings this morning, and while revenue fell short of analyst predictions, the company had strong profits and subscriber growth.
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Verizon also updated the market on their expectations for 2020, providing EPS guidance of between 2%-4% growth and low to mid single digit growth in consolidated revenues compared to 2019. Verizon (NYSE: VZ) reported strong Q4 2019 earnings with mixed results compared to analyst estimates for the quarter.The U.S. telecom giant posted quarterly steady growth of 1.4% year over year to the tune of $34.8 billion, beating consensus estimates of $34.62 billion.Competition in U.S. wireless services remains tight between the big players but Verizon has the Verizon’s posted diluted earnings of $1.13 per share after excluding special items, just missing analyst estimates of $1.14.Verizon also updated the market on their expectations for 2020, providing EPS guidance of between 2%-4% growth and low to mid single digit growth in consolidated revenues compared to 2019.Verizon trades at a slightly higher multiple to other U.S. telecom stocks which is fitting considering it is the market leader both in reputation and results.Verizon stock was trading down just under 1% in pre-market trading immediately following the release of results and has underperformed recently. The company reported 72,000 retail postpaid net additions in the quarter for its consumer business and total retail postpaid churn of 0.69%. The company generated $21.1 billion in revenue from its consumer segment and $7.5 billion from its business segment, along with $1.4 billion in media revenue. Earnings Outlook Verizon earnings: Getting aggressive with subscriber gains Published: Oct. 23, 2019 at 5:45 p.m. “We value Verizon leadership’s commitment to network evolution, segmentation, and the long- term growth of its dividend (4.5% yield),” wrote Bernstein’s Peter Supino, who rates the stock at market perform with a $58 price target. By using this website, you agree to the Terms & Conditions and Privacy Policy.Cresco Labs Crushes Q2 Estimates, but will Debt Derail the Stock?Waiting for Cannabis Stocks to Rebound? Verizon also disclosed that it saw 97,000 phone net additions and 199,000 postpaid smartphone net additions, and that its retail postpaid phone churn was 0.51%.MoffettNathanson analyst Craig Moffett said that the retail postpaid phone churn metric was “the lowest we’ve ever seen” as he reiterated a neutral rating and $62 target price. All told, Verizon is on track to report 2019 earnings of approximately $4.83 a share, with a modest increase likely in the cards for the coming year.
This contributed to a roughly 4-cent benefit to EPS.Verizon’s revenue for the quarter slipped to $30.4 billion from $32.1 billion in the prior June period, while analysts surveyed by FactSet had been expecting $29.9 billion. © 2020 Grizzle.
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