Verizon Stock Tumbles 3.38% Despite Intraday Highs

Verizon Communications Inc. (VZ) saw a 3.38% drop in its stock price, hitting a high not seen since April 2024 during intraday trading.
On September 5th, Verizon's share value decreased by 1.72%, landing at $42.19 per share at 01:34 PM, with a turnover of $413 million.
Financial data reveals that as of June 30, 2024, Verizon's total revenue amounted to $65.777 billion, marking a 0.41% increase year-over-year. However, its net profit attributed to shareholders fell by 3.79% to $9.195 billion year-over-year.
It is important to note that Verizon is scheduled to release its third-quarter fiscal report for 2024 on October 22, before the U.S. market opens.
On September 3rd, Verizon's shares gained 1.27%, closing at $42.31 per share at 21:38, with a total trading volume of $71.9825 million.
The detailed financial performance shows, yet again, that as of June 30, 2024, the company's total revenue was $65.777 billion, with net profits of $9.195 billion, representing a subtle growth in revenue but a decline in net earnings.
Furthermore, on August 28, Verizon reported a trading volume of $529 million, positioning it 90th in that day's U.S. stock trading rankings. The trading volume saw a 30.64% increase from the previous day.
Verizon's stock has appreciated by 0.10%, closing at $41.49 on August 28. Over the last five trading days, it saw a 1.07% increase, bringing its August gains to 2.39%. Year-to-date, the stock has risen by 10.05%, with a 52-week growth rate of 19.60%.
Verizon Communications Inc., headquartered in Delaware, is a major global provider of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities. The company operates across the globe, delivering data, video, and voice services and solutions over its robust networks and platforms, catering to the growing demands for mobility, reliable network connectivity, and security.
On August 31st, Verizon's shares rose by 1.24%, closing at $41.76 per share at 03:40 AM, with a trading volume of $323 million.
Again, as of June 30, 2024, Verizon maintained its total revenue at $65.777 billion, with net profits dropping by 3.79% to $9.195 billion. The next major disclosure is expected on October 22, when the company will release its Q3 financial outcomes for 2024.