Zacks predicts Verizon's earnings per share fell 11% year-on-year in the first quarter

Beijing Time April 20 news, according to foreign media reports, the U.S. investment company Zacks Equity Study (hereinafter referred to as "Zacks") reported in Monday, the Verizon in the first quarter of 2010 is expected to profit than the same period last year decline. Verizon was scheduled to report its first-quarter earnings before the opening of the U.S. Eastern Time, April 22, before it released any expected data on its financial performance for the quarter. Zacks forecasts that Verizon's earnings per share in the first quarter were 56 cents, down 11.41% from a year earlier.　　Verizon had previously estimated that the company's capital expenditure for fiscal year 2010 would be $16.8 billion to $17.2 billion, roughly equivalent to the $17 billion trillion in fiscal year 2009. In the quarter of Verizon2009, earnings per share were 54 cents, less than the 55 cents Zacks had previously been expected, or 61 cents in the same period in the 2008 fiscal year, largely due to rising costs and a slowdown in the wireless business.　　However, Verizon's fourth-quarter revenue grew 10% per cent year-on-year, largely due to a portion of its revenue from wireless operator Alltel Corp., which was acquired in early 2009.　　Zacks pointed out that among the 27 analysts who tracked Verizon's financial performance, 1 analysts have raised earnings forecasts in the past 7 days, while two analysts have downgraded earnings forecasts, with two analysts raising earnings forecasts for Verizon over the past one months and 3 analysts cutting earnings forecasts. Zacks also said the resultant combination of Alltel deals and increased penetration of the 3G and FiOS network services will be the driving force behind Verizon's business prospects. But Zacks remains concerned about the continued loss of Verizon's fibre-access business and the costly promotional competition between the company and At&t. Based on this, Zacks maintains a "neutral" (Neutral) rating for Verizon stocks. (Tangfeng)