Why Verizon Shares Are Shooting Higher Following AT&T Earnings Results

Verizon Communications Inc. VZ shares are trading higher by 1.75% to $37.21 Thursday morning in sympathy with AT&T Inc. T, which reported better-than-expected third-quarter EPS and sales results.

What Happened?

AT&T reported third-quarter FY22 operating revenues of $30.00 billion, down 4.1% year-over-year, beating the consensus of $29.86 billion. 

Excluding the impact of the divestments from WarnerMedia and other entities, operating revenues for standalone AT&T were up 3.1%, reflecting higher Mobility revenues. In the Mobility segment, AT&T clocked 964,000 postpaid net adds, 708,000 postpaid phone net adds, and 108,000 prepaid phone net adds...Read More

See Also: What's Going On With Tesla Stock Today

According to data from Benzinga Pro, Verizon has a 52-week high of $55.51 and a 52-week low of $35.04.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: MoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!