Verizon posted adjusted earnings fell to $1.32 a share, from $1.42 a share a year ago. Nevertheless, the figure is well above the FactSet consensus of $1.29 a share.
Revenue for the quarter came in at $34.2 billion, compared to $32.9 billion in the year-ago quarter. Analysts had expected $33.8 billion.
The telecom company experienced a net loss of 189,000 consumer wireless retail postpaid phone subscribers during the third quarter. However, it had 8,000 overall postpaid phone net additions after including business customers. Additionally, it experienced 342,000 fixed wireless-access net additions in the quarter.
While CFO Matt Ellis cautioned that Verizon anticipates some “disconnect pressure” in the fourth quarter amidst price increases, he also expects positive consumer phone net additions in that quarter.