Communications services companies rose, but not by as much as the broad market, after disappointing earnings from Verizon Communications.
The largest U.S. cell-phone carrier by subscribers, Verizon Communications unveiled a new cost-cutting plan after higher corporate costs and rising interest rates ate into its third-quarter profit. The company added a few thousand subscribers.
Advertising agency Interpublic Group boosted growth projections for 2022, citing increased revenues across all markets despite macroeconomic uncertainty that continues to threaten the advertising industry.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-21-22 1735ET
