Verizon's Solid 2Q Results Driven by Wireless Revenue Growth; Shares Fairly Valued
Verizon reported solid second-quarter results with better-than-anticipated revenue growth, but we are maintaining our $52 fair value estimate for now. We believe the shares are fairly valued. Reported revenue grew 5.4% year over year versus our full-year projection of 1.9%. However, much of the growth was generated from the acquisition of Yahoo and strong equipment sales, which are notoriously volatile. Total reported wireless revenue increased 5.5%. We are particularly pleased to see wireless s...Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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