{"id":33648,"date":"2020-07-24T17:11:00","date_gmt":"2020-07-24T14:11:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/verizon-profits-beat-forecasts-as-lockdowns-boost-internet-demand\/"},"modified":"2020-07-24T17:11:00","modified_gmt":"2020-07-24T14:11:00","slug":"verizon-profits-beat-forecasts-as-lockdowns-boost-internet-demand","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/verizon-profits-beat-forecasts-as-lockdowns-boost-internet-demand\/","title":{"rendered":"#Verizon profits beat forecasts as lockdowns boost internet demand"},"content":{"rendered":"

“#Verizon profits beat forecasts as lockdowns boost internet demand<\/strong>”<\/p>\n

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July 24, 2020 |<\/span> 10:11am <\/p>\n

\n Verizon Communications topped Wall Street\u2019s second-quarter financial estimates on strong demand for its phone and internet services by house-bound customers.<\/p>\n

The telecom giant said Friday that coronavirus-induced stay-at-home orders prompted a shift to remote working and learning, helping it add 173,000 postpaid phone customers, well above analysts\u2019 estimate of 61,200.<\/p>\n

But even as more customers were stuck at home, Verizon said it continued to lose pay-TV subscribers as cord cutting accelerated. Chief Executive Hans Vestberg said the company lost 81,000 net pay TV subscribers for its FiOS consumer video service in the second quarter, compared with a loss of 52,000 in the year-ago period.<\/p>\n

At Verizon\u2019s media<\/a> division, which includes Yahoo, HuffPost and TechCrunch, the impact of the coronavirus throttled advertising and sent revenue for the unit down 24.5 percent from the year-ago period to $1.4 billion. Verizon said it saw revenue trends improving a bit in June, however.<\/p>\n

Overall, Verizon\u2019s net income rose 18.9 percent to $4.84 billion, or $1.13 a share, for the quarter ended June 30.<\/p>\n

Excluding items, Verizon earned $1.18 a share. Quarterly revenue slid 5 percent to $30.4 billion.<\/p>\n

The company said the decrease in revenue was due to the fact that it temporarily closed its retail stores since mid-March amid the coronavirus outbreak. At the end of June, Verizon said roughly 60 percent of its stores were open.<\/p>\n

Nonetheless, Verizon bested analysts\u2019 predictions of EPS of $1.15 on sales of $29.93 billion.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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“#Verizon profits beat forecasts as lockdowns boost internet demand” July 24, 2020 | 10:11am Verizon Communications topped Wall Street\u2019s second-quarter financial estimates on strong demand for its phone and internet services by house-bound customers. The telecom giant said Friday that coronavirus-induced stay-at-home orders prompted a shift to remote working and learning, helping it add 173,000…<\/p>\n","protected":false},"author":1,"featured_media":33649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[43607],"class_list":["post-33648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-verizon-profits-beat-forecasts-as-lockdowns-boost-internet-demand"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/33648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=33648"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/33648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/33649"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=33648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=33648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=33648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}