[ad_1]
Verizon Communications Inc.
VZ + 3.36%
Tuesday said a third-quarter net profit reaching $ 5.06 billion, or $ 1.19 per share, compared with $ 3.74 billion or 89 cents a share over the same period last year . Excluding non-recurring items, adjusted net earnings per share increased from 98 cents to $ 1.22, higher than the consensus of $ 1.19 set by FactSet. The stock has changed little in pre-commercial trade. Total revenues increased 2.8% to $ 32.61 billion, exceeding FactSet's consensus of $ 32.5 billion. Postpaid wireless retail additions totaled 515,000, including 510,000 net additions of postpaid smartphones, while Fios net Internet additions totaled 54,000. The company expects net growth of turnover in 2018 in the range of low percentages to one-digit average; FactSet's $ 130.8 billion revenue consensus implies growth of 3.8%. Verizon shares rose 8.3% over the last three months, while the Dow Jones Industrial Average index
DJIA, -1.46%
added 1.1%.
Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.
Source link
