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Verizon Rises As Q3 Earnings, Subscriber Additions Top Views

Verizon Communications (VZ) reported September-quarter adjusted earnings that topped estimates while revenue came in below Wall Street targets. Verizon stock climbed on Wednesday as it added more postpaid wireless phone subscribers than expected.




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For the third quarter, Verizon earnings were $1.41 per share on an adjusted basis, excluding items. Revenue climbed 4.3% to $32.9 billion in the three months ended Sept. 30.

A year earlier, Verizon earned $1.25 a share on revenue of $31.5 billion. Analysts had projected Verizon earnings of $1.37 a share on revenue of $33.2 billion.

Verizon stock climbed 2.1% near 53.45 in morning trades on the stock market today.

The company said wireless service revenue rose 3.9% to $17.1 billion, in line with estimates.

Further, Verizon said it added 429,000 postpaid wireless phone subscribers vs. analyst estimates for a 342,000 gain.

Verizon Stock: Low Relative Strength

Despite its dividend, Verizon stock holds a paltry Relative Strength Rating of 19 out of a possible 99. VZ stock has retreated 12% in 2021.

Rival AT&T (T) reports earnings Thursday.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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