So
Got money by selling off hardware and FiOS.
Spent money by buying AOL and Yahoo.
There's somebody out there who still holds the geocities domain, currently deciding how many super-yachts he'll buy himself.
Fresh from its $4.8bn acquisition of Yahoo!, Verizon says its sales dropped five per cent year-on-year in its latest quarter, the three months to the end of June. Essentially, US telecom giant's wireless and wireline revenues fell over the year-ago quarter. Here's a summary of VZ's Q2 2016 results: Revenues of $30.5bn were …
Nice to know that somebody is taking care of the cleaning around here. Not that I think that Verizon actually knows what it is going to do with YahAOL when it has it, but that has never stopped a merger before.
Now the wait starts for news of the write-down Verizon will publish because YahAOL has suffered loss.