Talk about a bad case of the Mondays. The stock of seemingly mighty telecom-sector incumbent Verizon Communications (NYSE: VZ) took quite the drubbing as this trading week kicked off, at one point falling by more than 6% in value during the day.

That was a reaction to the company's latest earnings release, which in fact was notably better than the widespread sell-off would indicate.

Verizon's second quarter saw the company book $32.8 billion in revenue, a tally that was marginally (0.6%) higher on a year-over-year basis. Speaking of marginal changes, headline net income ticked down slightly, landing at $4.7 billion from the second-quarter 2023 result of $4.8 billion. On a per-share adjusted basis, Verizon earned $1.15 against the year-ago $1.21.

Continue reading

Source Fool.com