Summary by Futu AI
Verizon Communications Inc. reported a mixed financial performance for the first quarter ended March 31, 2024. The company's Consumer segment saw a slight revenue increase of 0.8% year-over-year, totaling $25.1 billion, driven by service and other revenues, despite a decrease in wireless equipment revenue. However, the Business segment experienced a revenue decrease of 1.6% compared to the same period in 2023, with operating revenues totaling $7.4 billion. Overall, consolidated operating revenues for Verizon modestly increased by 0.2% to $32.981 billion. The company's capital expenditures for the quarter were $4.4 billion, with an expected annual range of $17.0 billion to $17.5 billion. Verizon's strategic focus for 2024 includes enhancing and monetizing its networks, platforms, and solutions, as well as retaining and growing its customer base. The company continues to...Show More