Verizon Communications Inc. (NYSE:VZ) stock was up on Thursday following the release of its earnings report for the third quarter of 2017.
Verizon Communications Inc. reported earnings per share of 98 cents for the third quarter of the year. This is down from its earnings per share $101 from the same time last year. However, it was still able to match Wall Street’s earnings per share estimate for the third quarter of the year.
Revenue reported by Verizon Communications Inc. in the third quarter of 2017 was $31.72 billion. The wireless company reported revenue of $30.94 million during the third quarter of 2016. This is good news for VZ stock as analysts were looking for the company to report revenue of $31.45 billion for the quarter.
Verizon Communications Inc. reported operating income of $7.21 billion in its third quarter of the year. This is an increase over its operating income of $6.54 billion from the same period in the year prior.
Net income reported by Verizon Communications Inc. in the third quarter of 2017 was $3.74 billion. This is down slightly from its net income of $3.75 billion that was reported in the third quarter of the previous year.
Verizon Communications Inc. also provided guidance for the full year of 2017 in its most recent earnings report. The company says that it expects earnings per share and revenue for the year to mostly match what was reported in 2016. Wall Street is looking for earnings per share of $3.76 on revenue of $124.95 billion for the year.
VZ stock was up 2% as of Thursday morning, but is down 7% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
