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Verizon shares rise after earnings on AI-related dark fiber deal

Verizon said a “dark fiber” arrangement with Google creates a new revenue stream that sits above its core business, according to its CFO.

Reported · Written up by our desk · Equities

Verizon’s stock moved higher after it reported earnings, with investors reacting to the company’s entry into a new artificial intelligence related business area, MarketWatch reports.

The company pointed to a “dark fiber” deal with Google, which Verizon said will provide what its CFO described as a new revenue stream that is above its core business.

MarketWatch also linked the stock gain to the earnings update, noting Verizon’s outlook for that additional source of revenue tied to the Google arrangement.

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