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Verizon Communications Inc. (NYSE: VZ) shares fell in after-market trading Monday as the company warned of short-term pressure on its earnings.
According to the company’s press release, Verizon “expects that the fourth-quarter impacts of its promotional offers, together with the strong customer volumes this quarter, will put short-term pressure on its wireless segment EBITDA and EBITDA service margin (non-GAAP, based on earnings before interest, taxes, depreciation and amortization) as well as its consolidated EBITDA margin (non-GAAP) and earnings per share.”
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Additionally, the “company reported very strong customer demand for 4G smartphones and tablets on its More Everything shared data plans on the nation’s most reliable wireless network in the fourth quarter to date.”
Verizon also claimed that it “is driving retail postpaid gross additions that are higher both sequentially and year over year. New device launches are driving significant customer phone upgrades. These are on pace to total as much as 9.5 percent of the postpaid customer base by the end of the quarter.”
The company will report Q4 2014 results on January 22.
Verizon Communications traded at $48.38, down 1.06 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.