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The backtest results show that VZ's earnings beats yield moderate short-term returns, with a 50% win rate at 3 and 10 days and a stronger 75% win rate at 30 days, resulting in a 2.34% average return over the month. This indicates VZ benefits from earnings beats primarily over a longer horizon, while the overall industry shows no consistent gains. This suggests that investors can consider holding VZ stock after earnings beats to capture sustained gains, while remaining cautious about broader industry movements that appear less responsive.