Data is a real-time snapshot *Data is delayed at least 15 minutes. This initiative has yielded $6.3 billion of cumulative cash savings since the program began and is on track to achieve its target.Bad debt expenses increased in first-quarter 2020 as a result of changing expectations around customer payments during the COVID-19 crisis. Verizon stock fell. Total operating revenue for the wireless carrier fell 1.6% to $31.6 billion from a year earlier. BASKING RIDGE, N.J., June 03, 2020 -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report second quarter 2020 earnings on Friday, July 24. "In an unprecedented time, Verizon took decisive and balanced actions that will serve our stakeholders in the long term, including protecting our employees, maintaining our network quality and reliability, serving our customers, and supporting our communities.
In Q1 2020, Verizon's earned $1.26 per share, above analysts' average estimate of $1.22.
ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good … We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. It had earlier expected a growth of 2% to 4%.In the first quarter, Verizon's earned $1.26 per share, above analysts' average estimate of $1.22, according to IBES data from Refinitiv.The company, which plans to stay committed in investing in 5G network, said the virus reduced its earnings by 4 cents per share in the first quarter.Total operating revenue for the wireless carrier fell 1.6% to $31.6 billion from a year earlier.Got a confidential news tip? The company will present. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. NEW YORK (AP) _ Verizon Communications Inc. (VZ) on Friday reported second-quarter net income of $4.7 billion. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. It led to a significant drop in customer activity and device volumes in the quarter, the telecom operator said. Do the numbers hold clues to what lies ahead for the
We will emerge from this crisis stronger, knowing we provided critical connectivity to our customers, and especially our first responders, while maintaining our commitment to investing in our 5G and Fiber strategies. 08.06.2020 A STEM star thrives in Cleveland—before and during the pandemic High-achieving student uses Verizon Innovative Learning tech to shine brighter, both before and during the pandemic. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: cyber attacks impacting our networks or systems and any resulting financial or reputational impact; natural disasters, terrorist attacks or acts of war or significant litigation and any resulting financial or reputational impact; the impact of the recent global outbreak of COVID-19 on our operations, our employees and the ways in which our customers use our networks and other products and services; disruption of our key suppliers’ or vendors' provisioning of products or services, including as a result of the COVID-19 outbreak; material adverse changes in labor matters and any resulting financial or operational impact; the effects of competition in the markets in which we operate; failure to take advantage of developments in technology and address changes in consumer demand; performance issues or delays in the deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to our networks; the inability to implement our business strategy; adverse conditions in the U.S. and international economies; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our business; our high level of indebtedness; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or treaties, or in their interpretation; and changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings. The net impact was 3 cents in first-quarter 2020.Based on the unprecedented magnitude of current conditions, Verizon is updating financial guidance for full-year 2020:Matt Ellis, chief financial officer of Verizon, is scheduled to speak at the virtual Oppenheimer 23rd Annual Technology, Internet & Communications ConferenceAdam Koeppe, senior vice president of network strategy and planning for Verizon, is scheduled to speak at the virtual Cowen Communications Infrastructure SummitStay up-to-date with the latest news stories from Verizon.
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