Updates provided by Ivan Seidenberg at Citi Conf.
13 Januar 2010 - 8:00AM
UK Regulatory
TIDMVZC
RNS Number : 4522F
Verizon Communications
12 January 2010
Verizon Communications Inc.
Notice of filing with U.S. Securities and Exchange Commission
On January 6, 2010, at the Citi Entertainment, Media and Telecommunications
Conference, Ivan Seidenberg, Chairman and Chief Executive Officer of Verizon
Communications Inc. (Verizon), provided an update of Verizon's financial
performance. Verizon estimates that 2009 adjusted earning per share (EPS) will
be approximately 13 to 15 cents lower than 2008 adjusted EPS of $2.54 and that
revenues in 2009 will be higher than those in 2008. Verizon expects that
adjusted EPS for fourth quarter 2009 will be approximately $0.53 to $0.55.
Verizon expects that strong wireless subscriber growth and device upgrades that
were higher as a percentage of the retail postpaid customer base than in prior
periods will cause wireless operating income margins to be lower in the fourth
quarter 2009 than in the third quarter 2009. Verizon expects that the Wireline
segment's EBITDA margin will not improve in the fourth quarter 2009 as compared
to the third quarter 2009 as a result of access line losses and economic
conditions which continue to affect Verizon's business markets.
On January 8, 2010 Verizon filed a Current Report on Form 8-K with the U.S.
Securities and Exchange Commission (SEC) disclosing these updates. This report
may be viewed in more detail on the SEC website at www.sec.gov and on the
Verizon website at www.verizon.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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