Wall Street had forecast earnings per share (EPS) of 92 cents on $30.95 billion in revenue for the AOL owner. With adjustments, earnings came in two cents north of the benchmark — they’d have been 7 cents higher than that if not for the strike, the company said.
Revenue of $30.5 billion fell a bit shy of analyst expectations. Net income for the large-cap corporation clocked in at $900 million.
Without breaking the actual numbers down more granularly, Verizon stated that AOL “delivered strong revenue growth” for its new parent company.
“Verizon’s second quarter shows that the company continues to deliver strong results while evolving operations and advancing a strategy to sustain network leadership, build new ecosystems and deliver the promise of the digital world to customers,” Chairman and CEO Lowell McAdam said in a statement.
“By acquiring Yahoo, we are scaling up to be a major competitor in mobile media,” he added. “Yahoo is a complementary business to AOL, giving us market-leading content brands and a valuable portfolio of online properties and mobile applications that attract over 1 billion monthly active consumer views. We expect this acquisition to put us in a great position as a top global mobile media company and give us a significant source of revenue growth for the future.”
The company added 615,000 retail postpaid net additions from its wireless business. Fios didn’t fair as well — losing 13,000 Internet connections and 41,000 TV subs — which was blamed on the work stoppage.
VZ stock closed down a couple of coins on Monday afternoon, following a Friday lift.
DNC: Scenes From a Bernie Sanders Rally (Photos)
Democrats boasted that their convention would be unified, unlike the occasionally messy Republican National Convention. But Bernie Sanders supporters made sure people arriving by train at the Wells Fargo Center in Philadelphia would know that they didn't stand with Hillary Clinton.
The party seemed confident that Sanders and Clinton supporters could come together for the convention -- but that was before leaked Democratic National Convention emails suggested the DNC had favored Clinton's campaign over the Vermont senator's.
Inside the hall, the party presented a message of unity. Outside, that wasn't the vibe. The crowd included liberal Democrats unhappy with Clinton, people who only got involved in the political process to support Sanders -- and people who just want a cleaner political process.
Some Sanders supporters said they still hoped Bernie could be the Democratic nominee, perhaps because of the scandal over the leaked DNC email.
Kelly Brooks and Jordan Stevens traveled from Lansing, Michigan, to support Sanders. "He's not out. Not until the delegates vote," said Brooks, 27 (left). Stevens, 23, said Clinton is trying to get women to vote for her "just because she's a woman ... and I think that's the exact opposite of feminism."
Brooks is considering voting for Green Party candidate Jill Stein. "Bernie or Jill but never Hill," she said. "And if Trump gets elected I'm gonna have to move to Canada."
The rally included causes not directly related to the question of whether to support Clinton or Sanders.
Some of the most vocal protesters chanted that they were undocumented and unashamed.
A Philadelphia rally wouldn't be complete without an appearance by this classic "Always Sunny in Philadelphia" character. The Green Man endorsement will be crucial in the 2o16 presidential race.
1 of 9
Sanders supporters turn out in force in Philadelphia
Democrats boasted that their convention would be unified, unlike the occasionally messy Republican National Convention. But Bernie Sanders supporters made sure people arriving by train at the Wells Fargo Center in Philadelphia would know that they didn't stand with Hillary Clinton.
