Newsletter

Menu

Verizon’s Q3 results beat expectations

By Staff Correspondent |
Earnings Update by AlphaStreet

Verizon Communications Inc. (NYSE: VZ) topped revenue and earnings estimates for the third quarter of 2019, allowing shares to climb over 1% in premarket hours on Friday.

Consolidated revenues of $32.9 billion were up 0.9% from the same period last year and ahead of the consensus estimate of $32.7 billion. Revenue growth was driven mainly by higher wireless service revenues.  

Verizon beat Q3 revenue and earnings estimates

GAAP net income grew 5% year-over-year to $5.3 billion, or $1.25 per share. Adjusted EPS was $1.25, above forecasts of $1.24.  

Wireless revenues, on an adjusted basis, grew 2.6% year-over-year to $23.6 billion while wireline revenues dropped 3.8% to $7.1 billion.  

Consumer segment revenues grew 1.4% year-over-year to $22.7 billion, driven by growth in wireless service revenue and Fios service offerings. Wireless retail postpaid net additions totaled 193,000 during the quarter. Phone net additions more than doubled year-over-year to 239,000.

The company saw a growth in postpaid smartphone net additions, driven by a 10% increase in phone gross additions. Consumer wireless service revenues rose 2.1%, driven by customer step-ups to higher-priced plans and an increase in connections per account. Total retail postpaid churn was 1.05%.   

Also read: Verizon Q3 2019 Earnings Preview

In the Business segment, revenues remained flat year-over-year at $7.9 billion, as growth in wireless revenue was offset by declines in wireline products. Wireless retail postpaid net additions rose 12.1% to 408,000. Retail postpaid churn was 1.22%.

Media revenues dropped 2% to $1.8 billion versus the prior-year period, as gains in mobile advertising were offset by declines in desktop advertising.

For the full year of 2019, Verizon expects a low single-digit percentage growth in both adjusted EPS and GAAP consolidated revenues.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Advertisement

More on this Company

66 responses to “Verizon’s Q3 results beat expectations”

  4. cheap cam sex

    […]although websites we backlink to below are considerably not related to ours, we really feel they may be basically worth a go by means of, so possess a look[…]

  5. live sex

    […]here are some hyperlinks to internet sites that we link to since we believe they are worth visiting[…]

  9. Sick

    […]Every when inside a although we choose blogs that we study. Listed below are the most current web sites that we pick […]

  21. micro french bulldog

    […]that could be the finish of this article. Right here you’ll uncover some websites that we believe you’ll enjoy, just click the hyperlinks over[…]

  32. 늑대닷컴

    […]here are some hyperlinks to web pages that we link to mainly because we think they may be really worth visiting[…]

  37. mexican candy store near me

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless definitely worth taking a look, whoa did one particular study about Mid East has got extra problerms at the same time […]

  38. linh hoang

    […]Every when in a when we choose blogs that we study. Listed below would be the most up-to-date web pages that we pick out […]

  48. probiotics for french bulldogs

    […]we prefer to honor a lot of other internet internet sites around the internet, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  51. Dog Papers

    […]we prefer to honor lots of other web websites around the web, even when they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

  55. Dog Papers

    […]although sites we backlink to below are considerably not related to ours, we really feel they’re actually worth a go by way of, so have a look[…]

  59. Dog Papers

    […]just beneath, are several absolutely not associated internet sites to ours, nonetheless, they’re surely really worth going over[…]

  62. French Bulldog Adoption

    […]very couple of internet sites that come about to be detailed beneath, from our point of view are undoubtedly effectively really worth checking out[…]

  64. linh hoang

    […]that may be the finish of this post. Right here you’ll locate some sites that we consider you’ll appreciate, just click the links over[…]

  65. condiciones climaticas queretaro

    […]Wonderful story, reckoned we could combine a number of unrelated data, nonetheless definitely worth taking a search, whoa did one particular find out about Mid East has got much more problerms at the same time […]

  66. gray french bulldog

    […]that will be the end of this article. Right here you’ll find some websites that we feel you will value, just click the links over[…]

Top