| From: Sr K | 1/17/2024 2:51:08 PM | | | | | | 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
Share
Resize
Listen
(2 min)
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. |
| | Verizon Communications (VZ) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: John Hayman | 1/24/2024 6:35:45 PM | | | | | | For 5G vendors in the US, the worst may be over
Mike Dano
January 23, 2024
After a bigger-than-expected drop in demand among US wireless network operators in 2023, 5G equipment vendors are now hoping for an uptick in sales in North America to kick off 2024.
2023 was a tough year for 5G equipment suppliers, particularly in the US. American wireless network operators cut back spending far more than expected, forcing companies ranging from Ericsson to Crown Castle to issue warnings, reduce expenses and cut jobs.
But according to some analysts, things are looking better in 2024.
"It appears that activity levels may have stabilized and are showing some early signs of improving trends," wrote financial analysts at Morgan Stanley in a recent note to investors. The firm cited the results of its recent survey of cell tower operators in the US, which showed rising optimism amid improved sales. "These results are encouraging after a couple of tough quarters for the industry."
lightreading.com |
| | Verizon Communications (VZ) | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| |
