On Friday, Verizon Wireless announced its third-quarter earnings beating analysts’ estimates. The telecom giant reported revenue of $32.9 billion versus $32.7 billion expected with adjusted EPS of $1.25 versus $1.24 expected. 601,00 postpaid wireless customer additions were recorded, almost double in comparison to the year-ago quarter.
The company has implemented a cost cut in unlimited data plans, which have attracted customers from the company’s less expensive shared data plans to the company’s more lucrative unlimited services. Investment and Profits from its 5G launch are yet to produce.
“We are focused on our 5G rollout strategy, looking to deploy next-generation networks while enhancing our industry-leading 4G LTE network. Going into the fourth quarter, we are energized by the strong performance of the business and we are confident in our strategy to drive value for our customers and growth for our shareholders,” stated chairman and CEO Hans Vestberg.
Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers. To learn more about Verizon Communications, Inc. (VZ) and to track its progress please visit the Vista Partners Verizon Communications Inc. Coverage Page.
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