The world’s most far-reaching digital-content law will oblige 19 social-media, search and e-commerce services to comply with strict new rules by late August. Read More...
Verizon Misses Q1 Revenue Expectations, FY23 EPS Outlook Lags
Verizon Communications Inc (NYSE: VZ) reported a first-quarter FY23 sales decline of 1.9% year-on-year to $32.9 billion, missing the consensus of $33.6 billion. Adjusted EPS of $1.20 was in line with the consensus. Total wireless service revenue was $18.9 billion, up 3% Y/Y, reflecting the company’s ownership of TracFone, premium Unlimited strategy, and pricing actions. Postpaid phone net losses were 127,000, and retail postpaid net additions were 633,000. The quarter marked 437,000 total broadb