What's Going On With Verizon Stock?
Portfolio Pulse from Henry Khederian
Verizon Communications Inc. (NYSE:VZ) shares fell 2.66% to $41.72 after reporting mixed Q3 results. Revenue was flat at $33.33 billion, missing expectations, but EPS slightly beat estimates. Wireless service revenue grew by 2.7%, and broadband subscribers increased by 16%. However, net income dropped due to severance costs.
October 24, 2024 | 3:10 pm
News sentiment analysis
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NEGATIVE IMPACT
Verizon's stock fell 2.66% after mixed Q3 results. Revenue was flat, missing expectations, but EPS slightly beat estimates. Wireless service revenue grew, and broadband subscribers increased. Net income dropped due to severance costs.
Verizon's stock is impacted negatively due to mixed earnings results. While EPS slightly beat expectations, flat revenue and a significant drop in net income due to severance costs have led to a decline in stock price. The growth in wireless service revenue and broadband subscribers is positive but not enough to offset the negative sentiment from missed revenue expectations and reduced net income.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100