Verizon Q3 Earnings: Wireless Subs Boost with 5G Offers, $1.7B Severance Charge Hit To Profit, Reiterates Annual Outlook

Verizon Communications Inc (NYSE:VZ) stock traded lower on Tuesday after it reported fiscal third-quarter results. 

Its sales growth was flat year over year, reaching $33.33 billion, marginally missing the analyst consensus estimate of $33.43 billion. Service and other revenue growth was offset by declines in wireless equipment revenue.

Also Read: Nokia Q3: Earnings Miss, CEO Cites Telecom Weakness And Anticipates India Demand Rebound

Adjusted EPS of $1.19 beat the analyst consensus estimate of $1.18.

Total wireless service revenue was $19.8 billion, up 2.7% year over year, driven by pricing actions and growth from fixed wireless connections.

Postpaid phone net additions were 239,000. Verizon's retail postpaid net additions were 349,000.

The quarter saw 389,000 total broadband net additions. The company ended the quarter with ...