Why Verizon Investors Should Be Wary of Pricing Pressure
Verizon (NYSE: VZ) has held up well in the face of intense competition from T-Mobile (NASDAQ: TMUS) and Sprint (NYSE: S).
In its most recent quarter, the wireless giant saw its adjusted earnings per share come in at $0.96, compared with $0.94 in the prior-year quarter. The company also enjoyed 590,000 postpaid smartphone net additions while delivering retail postpaid phone churn of 0.70% -- less than 0.90% for the ninth consecutive quarter.
Verizon CEO Lowell McAdam celebrated the company's results in the earnings release: "Verizon reignited its growth engine in the quarter, both adding and retaining wireless customers while scaling our media business and continuing to invest in our superior networks." He continued, "With record customer loyalty and a clean sweep of third-party network quality results, we're leading the way to provide customers with next-generation broadband, smart cities, telematics, media and Internet of Things services."
Source: Fool.com
