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Verizon Writes Off $5.8 Billion From Enterprise as Sales Decline
Verizon is writing down the value of its business services division by $5.8 billion, a sign of the company's declining enterprise operations. From a report: The wireless carrier said in a filing Wednesday that the non-cash goodwill impairment charge was due to "secular declines, as well as continuin...
Verizon is writing down the value of its business services division by $5.8 billion, a sign of the company's declining enterprise operations. From a report: The wireless carrier said in a filing Wednesday that the non-cash goodwill impairment charge was due to "secular declines, as well as continuing competitive and macroeconomic pressure." The decline is tied to the telecommunications giant's legacy wireline operations, which provide fixed-line communications services for businesses, through copper or fiber wires.
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