Verizon Stock Falls Despite Earnings, Revenue Beat
Verizon Communications Inc. (NYSE:VZ) stock is down 2.4% to trade at 1.19 per share on $33.49 billion in revenue -- both topping analyst estimates. However, the telecom giant also reported a larger-than-expected loss of 289,000 postpaid net phone subscribers, compared to the 197,000 decline analysts anticipated. The company cited inflationary pressures as a possible factor behind the cancelations but reaffirmed its full-year guidance.From a technic ...