Verizon Q3 Profit $5.06B, Guidance Reaffirmed

Verizon reported third-quarter GAAP profit of $5.06 billion and adjusted EPS of $1.21 on revenue of $33.8 billion, modestly beating some estimates. The company added 44,000 total monthly bill‑paying wireless subscribers while retail postpaid phone net losses were 7,000, and it recorded 306,000 net broadband additions; wireless‑service revenue rose about 2.1% and consumer revenue climbed 2.9% for the quarter. Newly appointed CEO Dan Schulman said Verizon will pursue a customer‑centric growth strategy to reduce churn following heavy iPhone promotional activity. Management reaffirmed full‑year guidance, forecasting total wireless‑service revenue growth of 2.0–2.8%, adjusted EPS growth of 1–3%, adjusted EBITDA growth of 2.5–3.5%, and expects capital expenditures at or below the $17.5–$18.5 billion range. The results and subscriber gains helped ease investor concerns about competition, and shares rose in early trading.