Verizon Cuts Profit View As Higher Prices Hit Subscriber Growth

35
Comment
Favorite

Verizon Cuts Profit View As Higher Prices Hit Subscriber Growth

Reuters2022-07-22

July 22 (Reuters) - Verizon Communications Inc on Friday cut its annual adjusted profit forecast after adding fewer-than-expected monthly bill-paying phone subscribers in the second quarter, a sign that red-hot inflation has begun impacting its business.

Telecom companies, including Verizon and rival AT&T, have increased prices for their plans to cushion the impact of higher input costs. The price hike by Verizon in June by way of additional charges was over and above its already pricier plans.

The wireless carrier added only 12,000 net phone subscribers who pay a monthly bill in the quarter compared with FactSet estimates of 150,800 additions. In the first quarter, Verizon had lost about 36,000 subscribers.

The company now expects 2022 adjusted earnings per share in the range of $5.10 and $5.25 per share, lower than the prior outlook of $5.40 to $5.55.

Verizon shares dropped 4% in premarket trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

No comments yet

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2253103971?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-07-22 19:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2253103971","market":"us","top_or_hot":-1,"title":"Verizon Cuts Profit View As Higher Prices Hit Subscriber Growth","media":"Reuters","content":"<html><head></head><body><p>July 22 (Reuters) - Verizon Communications Inc on Friday cut its annual adjusted profit forecast after adding fewer-than-expected monthly bill-paying phone subscribers in the second quarter, a sign that red-hot inflation has begun impacting its business.</p><p>Telecom companies, including Verizon and rival AT&amp;T, have increased prices for their plans to cushion the impact of higher input costs. The price hike by Verizon in June by way of additional charges was over and above its already pricier plans.</p><p>The wireless carrier added only 12,000 net phone subscribers who pay a monthly bill in the quarter compared with FactSet estimates of 150,800 additions. In the first quarter, Verizon had lost about 36,000 subscribers.</p><p>The company now expects 2022 adjusted earnings per share in the range of $5.10 and $5.25 per share, lower than the prior outlook of $5.40 to $5.55.</p><p>Verizon shares dropped 4% in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/aa25f2fc0b42c2d4092ddddf092de9f4\" tg-width=\"854\" tg-height=\"621\" referrerpolicy=\"no-referrer\"/></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Verizon Cuts Profit View As Higher Prices Hit Subscriber Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVerizon Cuts Profit View As Higher Prices Hit Subscriber Growth\n</h2>\n\n<h4 class=\"meta\">\n\n2022-07-22 19:31 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>July 22 (Reuters) - Verizon Communications Inc on Friday cut its annual adjusted profit forecast after adding fewer-than-expected monthly bill-paying phone subscribers in the second quarter, a sign ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VZ","symbol_name":"威瑞森","start_time":0,"source_url":"","article_id":"2253103971","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2253103971","pubTimestamp":1658489479,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"July 22 (Reuters) - Verizon Communications Inc on Friday cut its annual adjusted profit forecast aft","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"VZ":"威瑞森"},"translate_title":"Verizon下调利润预期，因为价格上涨打击了用户增长","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VZ":0.9},"content_text":"July 22 (Reuters) - Verizon Communications Inc on Friday cut its annual adjusted profit forecast after adding fewer-than-expected monthly bill-paying phone subscribers in the second quarter, a sign that red-hot inflation has begun impacting its business.Telecom companies, including Verizon and rival AT&T, have increased prices for their plans to cushion the impact of higher input costs. The price hike by Verizon in June by way of additional charges was over and above its already pricier plans.The wireless carrier added only 12,000 net phone subscribers who pay a monthly bill in the quarter compared with FactSet estimates of 150,800 additions. In the first quarter, Verizon had lost about 36,000 subscribers.The company now expects 2022 adjusted earnings per share in the range of $5.10 and $5.25 per share, lower than the prior outlook of $5.40 to $5.55.Verizon shares dropped 4% in premarket trading.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":35,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}