Verizon's Place As A High-End Provider Could Be In Jeopardy
April 21, 2017 - 8:10am
Verizon Communications Inc. (NYSE: VZ)'s status as being a premium-priced and higher-end "Tiffany network" is now being called into question after the company's first quarter earnings report.
According to Argus' Joseph Bonner, Verizon's "weak" earnings report showed a decline in both revenue and earnings per share and confirms the intense competitive environment within the wireless industry. In fact, Verizon's move to join its competitors in offering unsubsidized phone plans and unlimited data offerings is hurting its organic revenue and earnings, which prompted the analyst downgrade Verizon's stock from Buy to Hold.
The Path Forward Isn't Bright
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