For the full year 2024, Verizon reported a consolidated net income of $17.5 billion, a 50.73% increase from 2023. Full-year 2024 earnings per share (EPS) were $4.14, compared to $2.75 for the full year 2023.
We can't make money..... so we must cut 15,000 more people...
18 Billion in profit just isn't enough!
@b1 it's not a "growth" company so the dividend makes sense. Problem is we are stuck living under an economic system that demands the impossible: infinite growth.
And we'll have a revolving door of Fintech CEOs attempting to do the impossible: turn an established, fabulously profitable (but definitionally low growth), company into a scrappy start up that has potential for the requisite exponential growth.
We are nearing the end stages and the wheels are beginning to fall off as normal people, who work for a living and see ever diminishing returns for their labor, are starting to understand that the CEOs, desperate to replace their absent fathers love with currency, won't be happy until they have everything and we have nothing.
Anyway I think we mostly agree, so cheers and good luck
While I agree with you for the most part, our dividend and debt payments fu-k us over. Look at the financial statements more closely, yes we record profits, but then we pay a huge dividend that eats up all of our cash and we actually have to borrow more sometimes to be able to pay the dividend we promised. If we cancel the dividend, stock price plummets as investors bail. The only reason anyone holds VZ is for the reliable dividend. Blame Dan all you want but honestly this company is fu---d financially without some kind of radical change to capex, opex, or both. To be clear I don't believe RIFs are the right answer.
Thank you. It's grotesque. And of course the corporate media (the only one we've got) opens wide, guzzles down the Capital Class propaganda, and spews it out to everyone listening. The "struggling" company "must" make cuts.
We made them 4 BILLION dollars in profit the last three months. It's not enough. It will never be enough.
It could be a completely different world if corporate employees could vote out their leaders. Imagine a world where you, as an individual contributor, could RIF the CEO. They would probably care a little more about our employees' welfare and would consider alternatives to RIFs to change the direction of the company.
As Lowell would say, "there's always a higher gear" so rev up you energy and sell, sell, SELLLLLLL