Verizon simply released its first quarter revenue results, with adjusted cash per share of 95 cents on income of $ 29.8 billion.
earnings (minus divestitures and acquisitions) is down four.5 percent from the primary quarter of 2016. The numbers also fall short of what analysts had been predicting: EPS of 96 cents per share on earnings of $ 30.5 billion.
Verizon says there used to be a web decline of 307,000 wi-fi postpaid connections prior to now quarter. on the other hand, it also says the launch of its unlimited knowledge plan “positively modified the trajectory of purchaser additions” — after the February launch, Verizon says it brought 109,000 postpaid connections.
On the digital media side, Verizon says AOL (which owns TechCrunch) saw revenue (minus visitors acquisition costs) lower four percent 12 months-over-year, a decline it attributes to the growth of programmatic promoting. And web of things income was up 17 percent.
“Our first-quarter results once more proven that customers price a superior network expertise,” said Verizon CEO Lowell McAdam in the earnings release. “to construct on our loyal purchaser base and the third-birthday party reputation now we have received for network management, we extended our wireless and fiber community capabilities, commenced offering a limiteless pricing possibility and extended our opportunities in new markets. We’re executing on strategies to capture future increase and create long-time period shareholder value.”
previous this week, McAdam instructed Bloomberg that Verizon can be open to merger talks with Comcast, Disney or CBS: “If [Comcast CEO Brian Roberts] came knocking on the door, I’d have a discussion with him about it.”
of course, Verizon nonetheless wants to complete its acquisition of Yahoo, which it plans to mix with AOL into a digital media organization known as Oath.
As of 8am japanese, Verizon shares had been down 2.three p.c in pre-market buying and selling.
mobile – TechCrunch