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Verizon profit falls sharply after strike, mobile slowdown

2016-07-26 14:40:00| Telecompaper Headlines

(Telecompaper) Verizon reported a drop in second-quarter sales and profits, hurt by a seven-week strike during the period and the slowdown in growth at its mobile activities. Operating revenues of USD 30.5 billion were down 5.3 percent from a year earlier, or 3.5 percent lower after adjusting for the acquisition of AOL and sale of some local landline businesses. Operating profit tumbled 41.8 percent to USD 4.6 billion, after a sharp rise in SG&A costs. Net profit was down 80.9 percent to USD 831 million, after a gain from selling the landline activities, pension charge adjustments and costs for retiring around USD 10 billion in debt during the period. On an adjusted basis, earnings fell to USD 0.94 per share from USD 1.04, with an estimated impact of 7 cents a share from the strike.

Tags: mobile falls profit strike

Novatel Wireless MiFi 6620 Mobile Hotspot Available For Verizon Wireless LTE Rural America Network Partners

2016-03-08 07:58:57| wirelessdesignonline News Articles

Novatel Wireless, Inc. (Nasdaq:MIFI), a leading global provider of solutions for the Internet of Things, today announced that its award-winning MiFi 6620 mobile hotspot is now approved to support Verizon Wireless' (NASDAQ:VZ) LTE in Rural America (LRA) program, with availability later this month.

Tags: network mobile america partners