Verizon profit beats estimates as more subscribers sign up

Moreover, much of the growth has been coming from tablet adds rather than phones.

‎Verizon added 72,000 net new FiOS broadband connections in the latest quarter, down sharply from 139,000 a year earlier and 133,000 in the first quarter. Wireless carriers have been heavily promoting and discounting tablets as they look to bolster crucial subscriber growth numbers.

Analysts are mostly bullish in their ratings on Harley-Davidson.

Verizon said its churn was the lowest in three years, at 0.9%. Despite losing feature phone and prepaid customers in the period, Verizon said it remains happy with its mix of customers. Today, Verizon has formally announced their figures for Q2 of 2015, and by all accounts things are positive, but it’s clear that T-Mobile has bought the fight to Big Red. Sprint’s churn declined sequentially from 2.3% to 1.84% during Q1, while its postpaid net adds stood at 211,000. Analysts projected $32.4 billion. While Verizon has effectively managed to fend off competition thus far by focusing on higher quality customers, the recent momentum that the bottom two carriers have been seeing does pose a threat to the company. However, Verizon said that retail postpaid ARPA plus installment billings from Verizon’s Edge equipment installment plans increased 1 percent from a year ago.

“Verizon is the only mass-market service provider in the New York metro area with an all-fiber infrastructure directly to consumers’ homes”. Now the company Insiders own 0.01% of Verizon Communications Inc. The number is expected to rise to as much as 50% during Q2. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Verizon Communications from an overweight rating to a neutral rating and set a $55.00 price target on the stock in a research note on Thursday, June 4th. Overall, Verizon said 7.2 percent of its retail postpaid base upgraded in the second quarter, and 91 percent were smartphones. The 12-month consensus price target for Verizon shares is $52.09, suggesting an 8.29% upside over their previous closing price, which was $48.10.

Verizon Communications Inc. shares are now priced at 20.16x this year’s forecasted earnings compared to the industry’s 23.59x earnings multiple. Now, Verizon has been focusing on strengthening its network capacity in order to maintain its pricing power, amid a surge in data usage. The company has a 52-week high of $53.66.

Verizon has been making acquisitions of its own, snapping up AOL.