TELETRADER News
10/20/2021, 1:34 PM (Source: TeleTrader)
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Verizon's Q3 total revenue up 4.3% YoY to $32.9B

Verizon Communications Inc. reported on Wednesday that its total revenues for the third quarter of the fiscal year saw an annual gain of 4.3% climbing to $32.9 billion.

At the same time, the company stated that its diluted earnings per share (EPS) increased 47.6% when compared to the same period last year to $1.55. Verizon's net income went from $4.5 billion to $6.6 billion, constituting a year-over-year rise of 45.5%. There were a total of 129,000 broadband ent additions, both wireline, and fixed wireless, while total wireless service revenue jumped 3.9% compared to last year to $17.1 billion.

Verizon Chairman and CEO Hans Vestberg: "Our disciplined strategy execution demonstrated growth in 5G adoption, broadband subscribers, and business applications. We are increasing our 2021 guidance, and we continue to expand our 4G LTE and 5G network leadership. We fully expect to have a strong finish to the year as we accelerate deployment of 5G to our customers across the country."

Verizon's shares jumped 0.76% in premarket trading following the release of the report.

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