By Emily Dattilo
Verizon Communications stock was tumbling after the telecom company issued disappointing financial guidance.
Verizon stock fell 7.5% to $42.98 on Tuesday, on track for its largest daily percentage decrease since October 2008, according to Dow Jones Market Data. AT&T stock dropped 3%, while T-Mobile declined 3.8%.
"It's been a challenging quarter from a competitive intensity standpoint, " Chief Revenue Officer Frank Boulben said in a transcript of the Deutsche Bank Media, Internet & Telecom Conference on Tuesday.
At the event, Verizon announced it anticipates first-quarter postpaid phone net additions to be impacted by three to five basis points of churn incremental to the year-ago period, citing recent pricing actions and postpaid phone gross additions that are flat to slightly down from the prior year period.
"Verizon remains confident in its full year financial guidance and that, without the impact of the second number offering, it will generate more Consumer postpaid phone net additions in full year 2025 than it did in 2024," the company said in a securities filing.
The market, less so.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 11, 2025 10:08 ET (14:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。