Verizon Communications posted second quarter earnings of $0.58 a share beating analyst expectations by 4.32%. Second quarter highlights for the communications company included 9.8 billion dollars in cashflow from operations up nearly 30%, and 5.5 billion dollars in free cash flow up nearly 77% from 2Q FY2009.
Wireless service has proven to continue to strengthen throughout the quarter. The increase in data subscribers continues to be a driving force behind Verizon's gross profit. Through personal observation, it appears as if Verizon Wireless is restructuring their business plan to make it nearly impossible to not have a data plan which will allow for increased profitability.
Verizon remains to be strong position in our portfolio. The market value of the position has been relatively flat, but we continue to benefit from Verizon's $0.47 dividend. Unless a dire need to free capital arises, I am confident that this position will remain profitable for UASBIG and should remain in the portfolio.
Verizon remains to be strong position in our portfolio. The market value of the position has been relatively flat, but we continue to benefit from Verizon's $0.47 dividend. Unless a dire need to free capital arises, I am confident that this position will remain profitable for UASBIG and should remain in the portfolio.
Chad
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