TECH SUPPLIER May 2020 - Market Note - Doc # US46251520

Verizon 1Q20 Results: Kicking Off 2020 with Strong Operational Performance

By: Courtney MunroeResearch Vice President, Worldwide Telecommunications Research, Jason LeighResearch Manager, Mobility, Ragupathy Vellappa

Abstract

This IDC Market Note discusses Verizon's 1Q20 results, released April 24, 2020. Given the social and economic impact of the COVID-19 pandemic, Verizon experienced a strong financial quarter. Like most other communications service providers, Verizon's network performed admirably, easily handling the surge of traffic with a seamless implementation of additional capacity in key sectors. However, the real test to the company's resilience is on the horizon.

"The economic impact of the COVID-19 depression will be felt in the second quarter with a sharp down turn in revenue from shuttered business and a slow and uncertain timeline for recovery," said Courtney Munroe, research vice president, Worldwide Telecommunications Research.


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