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Technology Stocks : Verizon Communications (VZ)
VZ 42.39+3.0%1:29 PM EDT
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From: Sr K1/17/2024 2:51:08 PM
2 Recommendations

Recommended By
Bill
Ms. Baby Boomer

   of 2063
 
Verizon to Book $5.8 Billion Charge on Business Unit

Telecom giant lowers value of once core segment after strategic review

By
Drew FitzGerald
Updated Jan. 17, 2024 9:45 am ET

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Verizon still makes most of its profit from cellphone services. PHOTO: JEENAH MOON/BLOOMBERG NEWS
Selling landlines and internet connections to businesses isn’t as lucrative as it used to be.

Verizon said it would take a $5.8 billion charge to write down the value of the division that offers such services to a range of companies from small retailers to multinational corporations.

Exc.
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