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Verizon Q2 misses on declining sales of $30.5B, beats with EPS of $0.94

ICE Graveyard 26/07/2016 Anthony Ha

Verizon just released its second quarter earnings report, with revenues of $30.5 billion and earnings per share of 94 cents.

That’s a miss on revenue, but a slight win on earnings/profitability. Wall Street analysts had predicted that the company (which owns TechCrunch) would report revenue of $30.9 billion and EPS of 92 cents.

“Verizon’s second quarter shows that the company continues to deliver strong results while evolving operations and advancing a strategy to sustain network leadership, build new ecosystems and deliver the promise of the digital world to customers,” said Verizon CEO Lowell McAdam in the earnings release.

The report comes just after Verizon announced plans to acquire Yahoo’s core business for $4.83 billion, a deal that’s expected to close in the first quarter of 2017. Following last year’s acquisition of AOL, the purchase suggests that Verizon is doubling down on the digital media business.

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