Ver­i­zon’s earn­ings were not good enough

Financial Mirror (Cyprus) - - FRONT PAGE -

Ver­i­zon Com­mu­ni­ca­tions Inc. (NYSE: VZ) re­ported sec­ond-quar­ter 2015 re­sults be­fore mar­kets opened on Tues­day. The tele­com gi­ant re­ported quar­terly EPS of $1.04 on rev­enues of $32.22 bln up from $0.91 on rev­enues of $31.48 bln a year ago. Wire­less added 1.1 mln net re­tail con­nec­tions in the sec­ond quar­ter, of which all were post­paid (con­tract) sub­scribers. At the end of the quar­ter, Wire­less claimed 35.56 mln re­tail ac­counts and 109.5 mln re­tail con­nec­tions. Av­er­age rev­enue per (post­paid) ac­count (ARPA) fell 3.8% y-o-y to $153.73 a month. Ver­i­zon claimed 6.82 mln In­ter­net con­nec­tions and 5.77 mln video con­nec­tions to its FiOS fiber net­work at the end of June, up 8.1% and 6.4%, re­spec­tively. The sit­u­a­tion is less up­beat when we look at net ad­di­tions in the wire­line busi­ness. Ver­i­zon added 26,000 net video sub­scribers in the quar­ter and 72,000 net In­ter­net sub­scribers, down 74% and 48.2%, com­pared with 2Q 2014. These num­bers will weigh on shares.

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