Verizon Communications (VZ) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.94 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.93. The company posted revenue of $30532.00 million in the period, compared to analysts expectations of $30968.11 million. The company’s revenue was down -5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.
Many Wall Street Analysts have commented on Verizon Communications. Verizon Communications was Downgraded by Oppenheimer to ” Perform” on Jul 20, 2016.
Verizon Communications closed down -0.08 points or -0.14% at $55.62 with 1,20,08,672 shares getting traded on Wednesday. Post opening the session at $55.58, the shares hit an intraday low of $55.31 and an intraday high of $55.665 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 28, 2016, Craig L. Silliman (EVP of PubPolicy & Gen Counsel) sold 672 shares at $54.56 per share price. According to the SEC, on Feb 26, 2016, Diego Scotti (EVP & Chief Marketing Officer) purchased 800 shares at $50.75 per share price. On Aug 11, 2015, Marni M Walden (EVP&Pres of Prod Innov&New Bus) sold 8,229 shares at $46.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Verizon Communications Inc. (Verizon) is a holding company that acting through its subsidiaries provides communications information and entertainment products and services to consumers businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless communications products and services include wireless voice and data services and equipment sales which are provided to consumer business and government customers across the United States. Wirelines voice data and video communications products and services include broadband video and data corporate networking solutions data center and cloud services security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States as well as to carriers businesses and government customers both in the United States and around the world.