Revenue Update on Verizon Communications(NYSE:VZ)

Verizon Communications(NYSE:VZ) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $30.53B. Analysts estimated a revenue of $31.06B. Earnings per share were $0.94. Analysts had estimated an EPS of $0.95.

In a different note, On Jul 20, 2016, Oppenheimer said it Downgrades its rating on Verizon Communications. The shares have been rated ‘Perform’ by the firm.

Verizon Communications (VZ) made into the market gainers list on Fridays trading session with the shares advancing 1.00% or 0.55 points. Due to strong positive momentum, the stock ended at $55.41, which is also near the day’s high of $55.72. The stock began the session at $54.99 and the volume stood at 1,55,08,926 shares. The 52-week high of the shares is $56.95 and the 52 week low is $38.06. The company has a current market capitalization of $225,867 M and it has 4,07,62,88,100 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 28, 2016, Craig L. Silliman (EVP of PubPolicy & Gen Counsel) sold 672 shares at $54.56 per share price.Also, On Feb 26, 2016, Diego Scotti (EVP & Chief Marketing Officer) purchased 800 shares at $50.75 per share price.On Aug 11, 2015, Marni M Walden (EVP&Pres of Prod Innov&New Bus) sold 8,229 shares at $46.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Verizon Communications Inc. (Verizon) is a holding company that acting through its subsidiaries provides communications information and entertainment products and services to consumers businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless’ communications products and services include wireless voice and data services and equipment sales which are provided to consumer business and government customers across the United States. Wireline’s voice data and video communications products and services include broadband video and data corporate networking solutions data center and cloud services security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States as well as to carriers businesses and government customers both in the United States and around the world.

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