Tags: Verizon | Earnings | Profit | Revenue

Verizon Posts Higher Revenue, Falls Short of Profit Estimates

Tuesday, 21 Oct 2014 08:18 AM


Verizon Communications Inc. on Tuesday posted lower-than-expected quarterly earnings, but revenue rose as it added customers to its wireless business.

Verizon reported third-quarter profit of 89 cents per share, up from 78 cents per share a year earlier. Revenue rose 4.3 percent to $31.6 billion.

Analysts, on average, expected a profit of 90 cents per share on revenue of $31.58 billion, according to Thomson Reuters I/B/E/S.

In the quarter, Verizon, the largest U.S. wireless carrier, added 1.5 million net subscribers who pay for service after use, beating Wall Street estimates of about 1 million customers.

Total revenues for Verizon's wireless business grew 7 percent year over year, while falling 0.8 percent for its broadband FiOS internet and video product.

Verizon shares dropped 1.3 percent to $47.84 in premarket trading.

© 2017 Thomson/Reuters. All rights reserved.

   
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Verizon Communications Inc. on Tuesday posted lower-than-expected quarterly earnings, but revenue rose as it added customers to its wireless business.
Verizon, Earnings, Profit, Revenue
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2014-18-21
Tuesday, 21 Oct 2014 08:18 AM
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