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 ...

Full story available on Benzinga.com


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