Verizon Expects Wireless Service Revenue To Grow 2.5%-4.5% in 2023 – $VZ $DIA $SPY $ATOS

By John F. Heerdink, Jr.

Verizon Communications, Inc. (VZ) reported quarterly earnings, reporting adjusted earnings of $1.19 per share on revenue of $35.3 billion, both in-line with analysts’ estimates. Verizon expects adjusted profit between $4.55 per share and $4.85 per share in 2023, below market estimate of $4.97 per share. The telecom giant expects wireless service revenue to grow between 2.5% and 4.5% in 2023 after posting an 8.6% increase in 2022. Verizon added 416,000 broadband customers in the three months to December quarter.

Chief Executive Hans Vestberg also warned Verizon would move away from promotions, “We believe current promotion incentives are not sustainable for the industry in the long run.”

The company forecast annual profit below expectations as the pandemic-led boom in wireless customer growth fizzles out and the company makes heavy investments in 5G technology. Verizon lost subscribers last year to its fast-growing rivals AT&T Inc and T-Mobile offering more affordable plans or with better 5G networks.

Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers. To learn more about Verizon Communications, Inc. (VZ) and track its progress, please visit the Vista Partners Verizon Communications Inc. Coverage Page.

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DID YOU KNOW?….

Approximately 1 in 8 women and one in 1,000 men will be diagnosed with breast cancer during their lifetime. Every two minutes an American woman is diagnosed with breast cancer; 40,000 die each year. The American Cancer Society (ACS) estimates that approximately 270,000 women will be diagnosed with breast cancer in the United States this year. It is the second leading cause of cancer death in American women. Atossa Therapeutics, Inc. (NASDAQ: ATOS) is a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments. Atossa is developing a drug “(Z)-endoxifen” to reduce mammographic breast density and, for patients who have recently been diagnosed with the most common type of breast cancer, to reduce tumor activity prior to surgery.

On Wednesday Jan., 25, Atossa Therapeutics, Inc. (Nasdaq: ATOS) announced the issuance of the following Letter to Shareholders from Steven C. Quay, M.D., Ph.D., the Company’s CEO and Chairman:

Steven C. Quay, M.D., Ph.D, CEO of Atossa Therapeutics, Inc. (Nasdaq: ATOS)

TO OUR VALUED STOCKHOLDERS:

2022 was a year of significant progress for Atossa. We focused our development efforts on advancing our breast cancer program with our patented (Z)-endoxifen, the highest potency Selective Estrogen Receptor Modifier (SERM). We currently have Phase 2 studies ongoing in the prevention and treatment settings, both focused on areas of unmet medical need. Our goal is to both help reduce the incidence of breast cancer and change the treatment paradigm for patients who are not benefiting from currently approved drugs.

In October 2022, the U.S. Food and Drug Administration (FDA) authorized the initiation of our EVANGELINE study, a Phase 2 trial of (Z)-endoxifen and Exemestane + Goserelin as neoadjuvant treatment in premenopausal women with ER+/HER2- breast cancer. While there are several FDA-approved neoadjuvant therapies for ER- breast cancers, few exist for the ER+ patients, which account for approximately 78% of breast cancers. We expect to enroll approximately 175 patients at up to 25 sites across the United States.

READ THE REST OF THE PROGRESS REPORT BY CLICKING HERE.

(Read Original Story: Verizon forecasts profit below estimates on wireless slowdown, 5G costs in Reuters)