Verizon Gives Glimpse of Future as IoT Business Grows
Shares of Verizon (NYSE: VZ) have rebounded since the company in late July reported a solid second quarter with a strong showing in wireless due to the company's new unlimited plan. Also highlighted was the completion of the Yahoo! acquisition and its combination with AOL under the new Oath media business subsidiary. That business is generating $7 billion a year in revenue, and Verizon expects to reap $1 billion in operating expenses from Oath through 2020.
While Verizon investors rightfully focus their attention each quarter on wireless results, the company is doing exciting work on less noticeable IoT and 5G network business development.
Image source: Getty.
Source: Fool.com
Verizon Communications Inc. Stock
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