Summary by Moomoo AI
Verizon Communications Inc. (Verizon) reported mixed financial results for the quarter ended June 30, 2024. The company's Consumer segment saw a slight revenue increase of 1.5% to $24.9 billion, and 1.2% to $50.0 billion for the six-month period, compared to the same periods in 2023. This was attributed to growth in service and other revenues, despite a decline in wireless equipment revenue. The Business segment, however, experienced a revenue decrease of 2.4% to $7.3 billion for the quarter and 2.0% to $14.7 billion for the six-month period, primarily due to declines in Enterprise and Public Sector and Wholesale revenues. Overall, consolidated operating revenues increased marginally by 0.6% to $32.8 billion for the quarter and 0.4% to $65.8 billion for the six-month period. Capital expenditures for the first half of 2024 were $8.1 billion...Show More
