Operating revenue decline of 1.
Total retail postpaid churn of 1. Service revenues increased 1.
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NYSE, Nasdaq: VZ reported first-quarter results today highlighted by strong earnings per online earnings on execution performance, increased cash flow, and a further commitment to network investment. We will emerge from this crisis stronger, knowing we provided critical connectivity to our customers, and especially our first responders, while maintaining online earnings on execution commitment to investing in our 5G and Fiber strategies.
Bitcoin link are particularly proud of our employees who continue to deliver essential services to our customers and those on the front lines so they can serve others. In first-quarterVerizon's results also included the continued effects of a reduction in benefits from the adoption of a revenue recognition standard, primarily due to the deferral of commission expense.
The net impact was 3 cents in first-quarter This decline was primarily the result of growth in wireless service revenue in the Consumer and Business segments, more than offset by sharp reductions in equipment revenue, after social distancing measures were adopted in March, limiting in-store customer engagement.
This year over year growth was primarily the result of Voluntary Separation Program payments and voluntary pension contributions made in first-quarter that did not repeat this year, as well as working capital improvements this quarter.
Capital expenditures continue to support the capacity for unprecedented traffic growth across Verizon's networks and the deployment of fiber and additional cell sites to support the company's 5G Ultra Wideband rollout.
Bad debt expenses increased in first-quarter as a result of changing expectations around customer payments during the COVID crisis. As a result of COVID, Verizon closed nearly 70 percent of its company-operated retail locations and reduced in-store service hours to promote social distancing.
This resulted in a significant drop in customer online earnings on execution and device volumes for the quarter. Consumer reportedwireless retail postpaid net losses in first-quarter This consisted ofphone net losses andtablet net losses, offset by 9, other connected device net additions.
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Postpaid smartphone net losses wereTotal online earnings on execution postpaid online earnings on execution was 1. Consumer reported 59, Fios Internet net additions as work-from-home, in-home schooling, and other related measures increased the demand for high-quality broadband offerings.
Consumer reported 84, Fios Video net losses in first-quarterreflecting the ongoing shift from traditional linear video to over-the-top offerings.
Business trends were strong throughout first-quarter Starting in March, Business saw heightened demand for its products and services, specifically for mobility, jetpacks, VPN services and high speed circuit capacity, and experienced increased activity to support front line crisis responders, new work-from-home and home schooling arrangements, and other demands for critical connectivity services. Business reportedwireless retail postpaid net additions in first-quartercompared within first-quarter This consisted ofphone net additions, 60, tablet net additions, andother connected device additions.
Business' customer-centric approach led to an effective response to the needs of its business customers at the onset of trading strategies binary options accurate entry video COVID crisis.
In wireless, this led to a total retail postpaid churn of 1.
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Prior to the COVID crisis, year over year revenue trends continued the steady improvement seen in full-year Verizon Media has seen increased levels of customer engagement on its platforms, but advertising rates have declined in the current environment.
This updated expectation is based on a scenario that assumes significant headwinds prevailing through second-quarter The company is withdrawing financial guidance related to Consolidated Revenues.
Adjusted effective income tax rate non-GAAP in the range of 23 percent to 25 percent. NOTE: See the accompanying schedules and www.
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Verizon Communications Inc. News releases are also available through an RSS feed. To subscribe, visit www. Forward-looking statements In this communication we have made forward-looking statements.
These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations.
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- Warrant of execution A warrant of execution will only help if the defendant has: Enough goods at the address you give which could be sold at auction to raise money for you All the money you are claiming for on the warrant to stop goods being sold Before the court can issue a warrant, the defendant must have: Failed to pay the amount he or she has been ordered to pay Fallen behind with at least one of his or her payments This is called 'being in arrears'.
For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law.