Why Verizon Stock Recovered From Earnings Losses
Verizon's (NYSE: VZ) shares fell on Monday after the telecom company reported first-quarter 2024 earnings, but that move reversed course on Tuesday. Shares are up 3% at 3:30 p.m. ET and peaked with an increase of 3.6%. But what happened between yesterday and today?
After earnings were announced on Monday, shares of Verizon moved slightly higher for a short time and then plunged to about a 3% loss for the day. But the quarter wasn't all that bad.
Consumer postpaid losses of 158,000 subscribers were offset by a gain of 389,000 broadband subscribers and 90,000 business phone subscribers. And the all-important wireless services revenue, which is a very high margin, was up 3.3% to $19.5 billion.
Source Fool.com
Verizon Communications Inc. Stock
€40.69
-0.380%
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