TECH SUPPLIER May 2020 - Market Note - Doc # US46251520
Verizon 1Q20 Results: Kicking Off 2020 with Strong Operational Performance
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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