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Verizon operating revenue hit in Q1; earnings better than expected

Verizon operating revenue hit in Q1; earnings better than expected

Verizon on Fri said it lost 68,000 subscribers during Q1 as its stores remain closed owing to Covid-19. As a result of slow phone sales, its operating revenue declined to $31.6bn from $32.1bn in the year-earlier period against analyst expectations of $32.4bn. However, company beat analyst expectations on adj earnings front, reporting $1.26 per share i.e 5% increase from same period last year.

Milan
Milan
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