Press Release

Grand News Network | October 24, 2023

Verizon Stock Gains On Strong Q3 Performance, Raised Cash Flow Outlook: The Details

Verizon Communications Inc (NYSE: VZ) stock traded higher Tuesday after it reported third-quarter FY23 results

It clocked a sales decline of 2.6% year-on-year to $33.34 billion, beating the consensus of $33.25 billion. Adjusted EPS of $1.22 beat the consensus of $1.18.

Total wireless service revenue was $19.3 billion, up 2.9% Y/Y, reflecting the company's ownership of TracFone, premium Unlimited strategy, and pricing actions. Postpaid phone net additions were 100,000, and retail postpaid net additions were 581,000.

The ...

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