Grove Bank & Trust Has $2 Million Position in Verizon Communications Inc. (VZ)

Grove Bank & Trust Has $2 Million Position in Verizon Communications Inc. (VZ)”

The company reported almost 110 million postpaid mobile connections at the end of the quarter - a net increase of 603,000 - along with 5.6 million prepaid connections.

Verizon added 603,000 retail postpaid connections.

The third quarter earnings season is now here, and first out of the gate is Verizon.

Verizon increased 3.1 percent to $50.16 at 9:41 NY after reaching as high as $51.18, the biggest intraday gain since July 27.

Verizon launched Verizon Unlimited in mid-February, countering similar plans from T-Mobile and Sprint.

The largest USA wireless carrier said Thursday that it added 603,000 customers who pay a bill at the end of each month, more than Wall Street expected.

Verizon Communications Inc. rose the most since July after new unlimited data plans drew in more wireless subscribers for a second straight quarter. Still, the company said service revenue trends were improving and had increased from the second quarter.

Revenues rose 2.5% from previous year to $31.7 billion, also beating analysts' view for $31.45 billion.

Analysts are closely awaiting the release of Apple Inc.'s latest phones, including the premium iPhone X. If popular, the new phones could drive more customers to upgrade at Verizon but rivals could also grab customers away with discounts. Possibly many consumers are holding out for the $999 iPhone X model, and the carriers this year also offered promotions that were less lucrative than last year for consumers buying the iPhone 8.

The company's "wireline" unit, which includes FiOS residential video and broadband service, reported the addition of 66,000 net Internet connections and a loss of 18,000 net Fios Video connections.

The nation's largest mobile network operator reported service revenue of $15.8 billion during the quarter, down 5.1% year over year but slightly outpacing Wells Fargo's estimate of $15.7 billion. Revenue came in at $31.72 billion versus the estimated $31.45 billion.

Thomson Reuters analysts forecasted Verizon's adjusted EPS to be 98 cents, which they matched, and revenue to be $31.45 billion, which they exceeded.

Looking ahead, VZ reiterated its previously announced 2017 outlook for flat consolidated revenues on an organic basis. Analysts are predicting the earnings to slide down to $3.782 in the three year's time from previous levels of around $3.903.

It's shaping up to be grim quarter for the pay-TV biz, as the drip-drip-drip of cord-cutting continues to put pressure on the fat traditional channel bundle.

Verizon Chief Executive Lowell McAdam said in September that the company is aiming to cut $10 billion in costs over the next four years by moving to zero-base budgeting.

Like this


19 October 2017
White Ex-Cop Guilty of Shooting Daughter's Black Boyfriend
But ultimately a fourth jury found Kepler guilty of the lesser charge after six hours of deliberation. When Kepler saw the couple, he got out of his vehicle and asked Lisa what she was doing there.

19 October 2017
What Is Insider Trading Activity Like At Wynn Resorts, Limited (WYNN)?
Since June 1, 2017, it had 0 insider purchases, and 1 insider sale for $62,800 activity. (QFG), Scents of Worth, Inc. (NYSE:PM). In related news, President Matt Maddox sold 42,900 shares of the business's stock in a transaction on Friday, September 15th.

19 October 2017
Shares Trading down at $59.82 (CCK) Crown Holdings, Inc. Reports Third…
BidaskClub upgraded Crown Holdings from a "hold" rating to a "buy" rating in a research report on Thursday, June 29th. As of the end of the quarter Acadian Asset Management LLC had acquired 11,527 shares growing its holdings by 125.4%.

19 October 2017
Shooting in the USA : three people killed in a business Park Emmorton
Harford County Sheriff Jeffrey Gahler told reporters this morning that the suspect was still on the loose. Two of the shooting victims remain in critical condition, according to WRC.

19 October 2017
Trump Suggests 'Fake Dossier' Was a Conspiracy Between Russia, FBI, Democrats
Notably, he has also claimed that three million to five million people voted illegally in the 2016 election and that then-President Barack Obama wiretapped his residence at Trump Tower.

19 October 2017
Top security chief: terrorists are planning another 9/11
Previously, she served as Under Secretary of Homeland Security for Management. The rented van used to kill 13 people in Barcelona this August.

19 October 2017
Jaipur and Srinagar airports top list in small aerodromes
In 2014 it stepped up its position to No. 1 rank in the 25-40 MPPA category and retained the rank in 2015 with a score of 4.96 in ASQ survey.

19 October 2017
Melania Trump body double conspiracy theory spreads on social media
Sadly for the tinfoil hat-wearing brigade, their belief that the First Lady has been using a body double is incorrect . And entrepreneur Joe Vargas claimed it was not actually Melania, but a stand-in.

19 October 2017
Key is not to touch veto: United States envoy to UN
"So, the key to getting India on the Security Council would have to be not to touch the veto", Ms Haley said. Diplomats concede the two countries together did indeed not seem open to reforms.

19 October 2017
Destiny's Child member Michelle Williams talks about feeling depressed and suicidal
And she says Beyonce's dad, Matthew Knowles (who was also the group's manager ), was unable to understand why she was struggling. What do you think of Michelle's honest discussion about depression? "Self-harm doesn't mean you want attention".