Tags: Verizon | profit | margins | wireless

Verizon Sees Profit Margins Higher After Wireless Acquisition

Monday, 24 February 2014 09:22 AM

Verizon Communications Inc. forecast higher profit margins this year following the $130 billion acquisition of full control of its mobile-phone unit.

Revenue will climb 4 percent, compared with 4.1 percent growth last year, New York-based Verizon said today in a statement. Profit margins will expand in both the wireless and landline businesses, the company said.

Verizon closed its transaction last week, buying out Vodafone Group Plc’s minority stake in the mobile-phone unit. The deal is Chief Executive Officer Lowell McAdam’s bet that the U.S. wireless market still has room for expansion even as growth slows in smartphone sales.

Shares of Verizon fell less than 1 percent in early trading today.

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Verizon Communications Inc. forecast higher profit margins this year following the $130 billion acquisition of full control of its mobile-phone unit.
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2014-22-24
Monday, 24 February 2014 09:22 AM
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