At a 5-Year Low, Is Verizon Communications Stock a Buy?
Verizon Communications' (NYSE: VZ) stock price sank 7% and hit a five-year low on July 22 after the company posted a messy second-quarter earnings report. The telecom giant's revenue remained flat year over year at $33.8 billion, which met analysts' expectations. But its adjusted earnings declined 6% to $1.31 per share, which missed Wall Street's estimates by a penny.
Those headline numbers didn't seem too bad, but Verizon gained a mere 12,000 net new postpaid phone subscribers during the quarter, which broadly missed the consensus forecast for over 167,000 net adds. That slowdown prompted Verizon to significantly reduce its guidance.
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Source Fool.com
