Why is Verizon stock down today? Verizon Communications Inc share price falls at US Stock Market
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Verizon stock fell 3 per cent on Monday at the US Stock Market, dropping to USD 43.32.
- ✓Although the company raised its annual subscriber forecast and signed a big AI deal with Amazon, third-quarter revenue of $34.3 billion fell short of estimates.
- ✓Many customers also held on to phones longer.
Story at a Glance
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- MARKET
- Reported By
- Economic Times
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- 2 Minute(s)
- Market Focus
- India Economy
Verizon stock is down on Monday by 3 per cent at the US Stock Market. Verizon Communications Inc-VZ stock price at NYSE fell by three per cent or 1.23 points to USD 43.32. This dip in share price came even as Verizon raised its annual forecast for wireless subscriber additions on Monday, betting on strong demand for its simplified plans, and signed an AI infrastructure deal worth more than $2 billion with Amazon Web Services.
For the third quarter, the telecom carrier reported nearly double the analysts' estimate for monthly-bill paying wireless subscriber gains at 406,000, against Visible Alpha expectations of 209,439. Shares of the New York-based company rose 2.4 per cent in premarket trading.
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Economic Times
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