{"id":338865,"date":"2017-04-20T20:01:21","date_gmt":"2017-04-20T12:01:21","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1479211"},"modified":"2017-04-20T20:01:21","modified_gmt":"2017-04-20T12:01:21","slug":"with-revenue-of-29-8-billion-verizons-first-quarter-earnings-fall-short-of-analyst-expectations","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/with-revenue-of-29-8-billion-verizons-first-quarter-earnings-fall-short-of-analyst-expectations\/","title":{"rendered":"With revenue of $29.8 billion, Verizon\u2019s first quarter earnings fall short of analyst expectations"},"content":{"rendered":"

<\/p>\n

Verizon just released its first quarter earnings results<\/a>, with adjusted earnings per share of 95 cents on revenue of $29.8 billion.<\/p>\n

Revenue (minus divestitures and acquisitions) is down 4.5 percent from the first quarter of 2016. The numbers also fall short of what analysts had been predicting<\/a>: EPS of 96 cents per share on revenue of $30.5 billion.<\/p>\n

Verizon says\u00a0there was a\u00a0net decline of\u00a0307,000 wireless postpaid connections in the past quarter. However, it also says the\u00a0launch of its Unlimited data plan<\/a>\u00a0\u201cpositively changed the trajectory of customer additions\u201d \u2014 after\u00a0the February launch, Verizon says\u00a0it added 109,000 postpaid connections.<\/p>\n

On the digital media side, Verizon says AOL (which owns TechCrunch) saw revenue (minus traffic acquisition costs) decrease 4 percent year-over-year, a decline it attributes to the growth of programmatic advertising. And Internet of Things revenue was up 17 percent.<\/p>\n

\u201cOur first-quarter results again demonstrated that customers value a high-quality network experience,\u201d said Verizon\u00a0CEO Lowell McAdam in the earnings release. \u201cTo build on our loyal customer base and the third-party recognition we have received for network leadership, we extended our wireless and fiber network capabilities, began offering an unlimited pricing option and expanded our opportunities in new markets. We\u2019re executing on strategies to capture future growth and create long-term shareholder value.\u201d<\/p>\n

Earlier this week, McAdam told Bloomberg<\/a>\u00a0that Verizon would be open to merger talks with Comcast, Disney or CBS: \u201cIf [Comcast CEO Brian Roberts]\u00a0came knocking on the door, I\u2019d have a discussion with him about it.\u201d<\/p>\n

Of course, Verizon still needs to complete its acquisition of Yahoo, which it plans to combine with AOL into a digital media organization called Oath<\/a>.<\/p>\n

As of 8am Eastern, Verizon shares were down 2.3 percent in pre-market trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Verizon just released its first quarter earnings results, with adjusted earnings per share of 95 cents on revenue of $29.8 billion.
\nRevenue (minus divestitures and acquisitions) is down 4.5 percent from the first quarter of 2016. The numbers also fall short of what analysts had been predicting: EPS of 96 cents per share on revenue of $30.5 billion.
\nVerizon says\u00a0there was a\u00a0net decline… Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

\"\"\/ <\/p>\n","protected":false},"author":5817,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[23,25],"tags":[59,66,26],"class_list":["post-338865","post","type-post","status-publish","format-standard","hentry","category-media","category-technology","tag-media","tag-techcrunch","tag-technology"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/338865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/users\/5817"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/comments?post=338865"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/338865\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/media?parent=338865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/categories?post=338865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/tags?post=338865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}