Tech Stocks Roundup: Verizon, ATT Post 4Q Results

New York City based Verizon Communications Inc., posted its earnings and income from the fourth quarter of 2018. Total consolidated operating revenues in the fourth quarter were $34.3 billion, up 1 percent from the same quarter in 2017. Consolidated operating revenues for the full year of 2018 was $130.9 billion, up 3.8 percent from 2017. Verizon ended the year with its focus on 5G technology and growing its customer base.

“Verizon finished 2018 by delivering solid financial and operational performance, as evidenced by our strong wireless service revenue and earnings growth,” Verizon CEO Hans Vestberg said.“2018 was a remarkable year full of 5G firsts, including being first in the world to commercially deploy 5G with our 5G Home product. As we head into 2019 and the 5G era, we’re beginning a period of transformational change. We are laser focused on delivering customers a best-in-class and game-changing experience on our networks.”

Following the announcement of its earnings, stock prices for the telecommunications giant Verizon, held around $54 per share.

ATT: Following a year of healine making acquisitions and growth, AT&T’s consolidated revenues for the fourth quarter totaled $48 billion up 15.2 percent from $41.7 billion in the year-ago quarter. The change was primarily due to the Time Warner acquisition partially offset by the impact of ASC 606 which includes the policy election of netting of approximately $980 million of USF revenues with operating expenses.  Without the accounting change, revenues were $48.9 billion, up 17.2 percent also credited to the Time Warner acquisition. Declines in legacy wireline services, wireless equipment, domestic video and Vrio were offset by WarnerMedia and growth in domestic wireless services and Xandr.

AT&T’s stock prices have held an average of $29.63

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