Verizon says Sandy effects could be 'significant'

Nov 02, 2012

(AP)—Verizon says the effects of Superstorm Sandy on its fourth-quarter earnings could be "significant."

Inc., whose downtown Manhattan facilities were flooded and are still without power, said Friday it is working to restore to customers affected by the storm.

The New York-based company says this could take some time.

Sandy knocked some cell towers out earlier in the week but by Wednesday they were slowly coming back to life. But ongoing mean many are still disabled.

Verizon says it is not possible to estimate the precise impact of the storm on its fourth-quarter results though it could be significant.

Its shares dropped 54 cents to $44.60 in premarket trading.

Explore further: Samsung removes logo on smartphones in Japan

0 shares

Related Stories

Sandy takes out 25 pct of cell towers

Oct 30, 2012

(AP)—Federal regulators say Hurricane Sandy knocked out a quarter of the cell towers in an area spreading across ten states, and the situation could get worse before it gets better.

FCC: Communications slowly improving after Sandy

Oct 31, 2012

(AP)—Federal regulators say that wireless networks are slowly coming back to life after Hurricane Sandy, with about 1 in 5 cell towers still being out of service Wednesday in a storm-hit area stretching from Virginia to ...

Verizon 3Q earnings double on pension effects

Oct 21, 2011

Earnings doubled at Verizon Communications Inc. in the latest quarter due to pension accounting effects, but the bottom-line result masked a weak quarter in the local-phone division, which was hammered by ...

Verizon to set up streaming service with Redbox

Feb 06, 2012

Challenging Netflix, phone company Verizon Communications Inc. says it will start a video streaming service later this year in cooperation with Redbox and its DVD rental kiosks.

Irene takes out some East Coast cellphone service

Aug 29, 2011

(AP) -- Wireless networks fell quiet Sunday in some coastal areas of North Carolina and southern Virginia, but calls were going through in most areas affected by Tropical Storm Irene, the Federal Communications Commission ...

Recommended for you

Taiwan factory workers win $18 mn over cancer deaths

Apr 17, 2015

Workers from a factory in Taiwan which leeched toxic chemicals they say resulted in 200 deaths from cancer and more than 1,000 other cases of the disease won a Tw$564.45 million ($18 million) payout from US electronics company ...

Court monitor: Apple antitrust cooperation has 'declined'

Apr 17, 2015

Apple Inc.'s cooperation with efforts to improve its compliance with antitrust laws after a federal judge concluded it colluded with electronic book publishers to raise prices five years ago took on an "adversarial tone" ...

SEC questions LA Unified on use of bonds for iPad project

Apr 17, 2015

The Securities and Exchange Commission recently questioned Los Angeles Unified School District officials as part of informal inquiry into whether they properly used bond funds for a beleaguered $1.3 billion project to provide ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.