Verizon posts $1.31 adjusted EPS and 406K phone additions in Q3
Verizon reported third-quarter adjusted earnings per share of $1.31, exceeding the $1.27 expected, while adding 406,000 postpaid phone subscribers against an estimate of 209,000. The carrier's total revenue came in at…
Verizon reported third-quarter adjusted earnings per share of $1.31, exceeding the $1.27 expected, while adding 406,000 postpaid phone subscribers against an estimate of 209,000. The carrier's total revenue came in at $34.3 billion, below the projected $34.74 billion, though the company secured a new artificial intelligence infrastructure agreement with Amazon Web Services valued at over $2 billion.
Verizon maintained its full-year guidance for adjusted earnings per share between $5.04 and $5.06, alongside a forecast of 1.1 million to 1.2 million postpaid phone additions for the year. The quarter also saw the addition of 314,000 broadband subscribers. The earnings release indicated that Verizon is maintaining its capital expenditure outlook despite the modest revenue miss.