Verizon lifts annual forecasts, signs more than $2 billion AI infrastructure deal with AWS
Shares of the New York-based company rose 2.4 per cent in premarket trading.
CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less • It also raised its full-year adjusted earnings per share forecast to $5.04 to $5.06, from $4.99 to $5.04 earlier • However, third-quarter revenue of $34.3 billion fell short of analyst estimates of $34.74 billion, according to LSEG data • Revenue was pressured by lower device upgrade volumes as customers held on to their phones longer after Verizon began cutting device subsidies • A year into CEO Dan Schulman's tenure, Verizon has pursued a broad overhaul of its business, restructuring operations and simplifying its wireless offerings • It launched its Simplicity plan in June, introducing transparent pricing and unlimited data • Under its deal with Amazon's cloud unit, Verizon will provide high-capacity fiber-optic connectivity for AWS data centers, enabling faster, more reliable data transfers to support growing AI computing workloads • Verizon in July announced a more than $1 billion agreement with Google to connect data centers using dark fiber, highlighting how rising AI demand could open a new revenue stream beyond traditional wireless and broadband services for telecom operators
- It also raised its full-year adjusted earnings per share forecast to $5.04 to $5.06, from $4.99 to $5.04 earlier
- However, third-quarter revenue of $34.3 billion fell short of analyst estimates of $34.74 billion, according to LSEG data
- Revenue was pressured by lower device upgrade volumes as customers held on to their phones longer after Verizon began cutting device subsidies
- A year into CEO Dan Schulman's tenure, Verizon has pursued a broad overhaul of its business, restructuring operations and simplifying its wireless offerings
- It launched its Simplicity plan in June, introducing transparent pricing and unlimited data
- Under its deal with Amazon's cloud unit, Verizon will provide high-capacity fiber-optic connectivity for AWS data centers, enabling faster, more reliable data transfers to support growing AI computing workloads
- Verizon in July announced a more than $1 billion agreement with Google to connect data centers using dark fiber, highlighting how rising AI demand could open a new revenue stream beyond traditional wireless and broadband services for telecom operators
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