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U.S. wireless carrier Verizon raised the lower end of its annual profit forecast, riding on strong demand for its premium plans and benefits from the Trump administration’s new tax law. Shares of the company rose 3.5% on Monday as it also surpassed Wall Street estimates for June-quarter sales and profit, thanks to a 2.2% rise in wireless service revenue. The telecom major has launched price-lock promotions and broadband-wireless bundles to retain users as competition intensifies from AT&T and T-Mobile, as well as broadband providers Comcast and Charter. Verizon is also benefiting from favorable U.S. tax reform that allows companies to immediately write off the full cost of certain new equipment, finance chief Tony Skiadas said. He estimated the legislation will boost free cash flow by $1.5 billion to $2 billion this year, prompting Verizon to raise its forecast for the metric to between $19.5 billion and $20.5 billion, up from $17.5 billion to $18.5 billion previously. The company now expects 2025 adjusted profit to grow between 1% and 3%, compared with 0% to 3% previously. Verizon pays the highest cash taxes among major U.S. telecoms, Wells Fargo analysts said earlier this month, adding the tax law will provide a big financial boost to the industry. Shares of AT&T and T-Mobile were both up 2.3%. However, Verizon posted a surprise drop of 9,000 monthly bill-paying wireless subscribers in the second quarter, reeling from user churn after price hikes in January. Analysts polled by FactSet were expecting an increase of 13,000 subscribers. To drive growth, Verizon and its rivals have been bulking up on fiber-optic assets that can tap growing consumer data use. Verizon in May won approval from the U.S. telecom regulator for its $20 billion acquisition of fiber-optic internet provider Frontier, after it agreed to end its diversity programs. The sharper focus on internet services helped it post 293,000 broadband net additions in the second quarter. Overall, Verizon reported revenue of $34.5 billion, beating estimates of $33.74 billion, according to data compiled by the London Stock Exchange Group (LSEG). Its adjusted earnings per share of $1.22 also beat estimates. By Harshita Mary Varghese, Reuters
Category:
E-Commerce
A Mississippi law that requires social media users to verify their ages can go into effect, a federal court has ruled. A tech industry group has pledged to continue challenging the law, arguing it infringes on users rights to privacy and free expression. A three-judge panel of the 5th U.S. Circuit Court of Appeals overruled a decision by a federal district judge to block the 2024 law from going into effect. It’s the latest legal development as court challenges play out against similar laws in states across the country. Parentsand even some teens themselvesare growing increasingly concerned about the effects of social media use on young people. Supporters of the new laws have said they are needed to help curb the explosive use of social media among young people, and what researchers say is an associated increase in depression and anxiety. Mississippi Attorney General Lynn Fitch argued in a court filing defending the law that steps such as age verification for digital sites could mitigate harm caused by sex trafficking, sexual abuse, child pornography, targeted harassment, sextortion, incitement to suicide and self-harm, and other harmful and often illegal conduct against children. Attorneys for NetChoice, which brought the lawsuit, have pledged to continue their court challenge, arguing the law threatens privacy rights and unconstitutionally restricts the free expression of users of all ages. The industry group, which has filed similar lawsuits in Arkansas, Florida, Georgia, Ohio, and Utah, represents some of the country’s most high-profile technology companies, including Google, which owns YouTube; Snap Inc., the parent company of Snapchat; and Meta, the parent company of Facebook and Instagram. In a written statement, Paul Taske, co-director of the NetChoice Litigation Center, said the group is very disappointed in the decision to let Mississippi’s law go into effect and is considering all available options. NetChoice will continue to fight against this egregious infringement on access to fully protected speech online,” Taske said. “Parentsnot the governmentshould determine what is right for their families. By Kate Payne, Associated Press/Report for America
Category:
E-Commerce
In 2025, our collective mental health in the U.S. is worsening, with some reports calling it a “crisis.” But when it comes to millennials and Gen Z employees, that national concern may be even more urgent with financial anxiety driving the crisis.A Modern Health report published today revealed just how mentally strained 18- to 44-year-old workers are, and the findings are troubling. In a survey of 1,000 American professionals within the age range, a staggering 79% said that economic uncertainty is fueling their anxiety. A dismal 16% rated their mental health as excellent. For millennials and Gen Z, financial anxiety seems to be all encompassing. Three in four workers said it is to blame for their burnout, 68% said it interferes with their ability to be productive at work, and it keeps 76% up at night, routinely disturbing their sleep. In a press release, Matt Levin, CEO of Modern Health, said, Our latest report reveals that many of todays young workers are quietly pushing through mounting mental health challenges just to keep up at work.” One massive issue seems to be the feeling that they can’t step away or log off. Nearly three quarters (74%) said they’ve delayed taking time off due to financial concerns. And 77% say they check emails when they do take time off. A concerning 80% said they’ve sacrificed their mental health for work and 77% say they’ve even worked through a mental health crisis. While you might think 18- to 44-year-olds are more in tune with mental health concerns than older age groups, they largely feel forced to ignore their mental health concerns. Over half (58%) said they delayed seeking mental health care until their symptoms became unmanageable, with 66% pointing to financial stress as the reason for delaying getting the care they needed. “For many employees, the pressure to perform outweighs the permission to pause,” Jessica Watrous, senior director of Clinical Research and Scientific Affairs at Modern Health, said in the report. “They want to do well, but they feel they can’t ask for help even when they need it most.” Gen Z and millennials say they want mental health support at work, but aren’t getting it or the support isn’t effective. In fact, nearly three quarters (71%) say that company mental health programs just mask toxic work culture that deprioritizes employee mental health over all. While an overwhelming majority, (96%) say prevention is key, with 94% saying it would improve their life overall, and 52% saying that mental health care would increase the trust they have in their employer, the vast majority do not feel a culture of prevention exists in their workplace. Only 31% of employees actually feel that their employers care about their mental health and create work cultures that support it. Millennials and Gen Z are struggling, while not getting the help they need. They also feel stuck. While 52% have considered quitting due to mental health concerns, 69% said they’re avoiding changing jobs, even if it means staying in toxic environments. Essentially, financial anxiety is simply so crushing, that making changeswhether that be seeking help or getting a new jobfeels impossible.
Category:
E-Commerce
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