VZ - Verizon Fourth-Quarter Earnings: Wired for Challenges Such As $5.8B Write Down But Wireless Could Be Triumphant | Benzinga
Verizon Communications (NYSE:VZ), the U.S. telecoms operator, is expected to report a decline in fourth-quarter earnings on Tuesday following a large write-down in its business services division, which was announced last week.
The consensus estimate for fourth-quarter earnings per share is $1.07, down 10.1% from the same period a year ago.
In the third quarter, the company reported earnings per share of $1.13 which was down from $1.17 in the same quarter a year ago.
Revenues are expected to come in at around $34.6 billion which would be down 2% on the year-ago number.
Also Read: Verizon to take $5.8 bln hit in fourth quarter from unit write down
Wireline Write-Down
While the company has reported strong growth in its mobile division and growing average revenues per account (ARPA), its legacy wireline operations, which provide fixed-line communications services to businesses and government agencies, have been lagging.
Last week, the company ...