John Paczkowski

Recent Posts by John Paczkowski

Cost-Cutting Costs Weigh on Verizon

The buyouts Verizon (VZ) has offered some 11,000 employees have cost the company dearly. Posting second-quarter earnings Friday morning, Verizon said it lost $198 million, or 7 cents a share, largely as a result of–you guessed it–one-time costs related to workforce reductions.

Unfortunate news, particularly since that loss compares to a profit of $1.48 billion, or 52 cents a share, a year earlier. That said, excluding one-time items, Verizon earned 58 cents a share, which was better than the 56 cents analysts had been looking for.

And the company’s wireless business is booming. Verizon Wireless added a better-than-expected 1.4 million net customers, with about 665,000 of them opting for annual contracts. Those customers are spending more each month–$51.56, up 0.9 percent from the previous quarter. They’re also canceling service far less often. Subscriber churn fell to .94 percent–the lowest it’s been in nearly two years.


Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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