Verizon (NYSE:VZ) Q3 earnings are out and the wireless company isn’t seeing much movement from VZ stock Friday following the release. That’s likely due to its adjusted EPS of $1.25 and a revenue of $32.90 billion. These both just barely beat out Wall Street’s estimates of $1.24 and $32.75 billion.
Here’s what else investors need to know about the Verizon Q3 earnings report.
- Adjusted EPS is up 2.46% from $1.22 in the same period of the year prior.
- Revenue comes in roughly 1% higher than what was reported in the third quarter of 2018.
- Part of the successful Verizon Q3 earnings report has to do with its growing consumer phone users.
- The company notes that it saw this increase by 239,000 customers during the quarter.
- For comparison, this segment saw an increase of 112,000 during the same time last year.
Hans Vestberg, Chairman and CEO of Verizon, says this about the VZ stock earnings.
“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.”
The Verizon Q3 earnings also have it reaffirming its outlook for 2019. This includes it expecting adjusted per-share earnings to see a low single-digit percentage growth from the previous year. It also expects the same type of growth for revenue in 2019.
VZ stock was down slightly as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.