Earnings season got rolling this week as Verizon posted its Q3 earnings this morning. As usual for such a massive, carefully watched company, there wasn’t anything truly surprising in the numbers. They came in a bit shy of estimates, but close enough to the mark so as to be ok and not panic anyone.
Revenues were $31.59B, which was either in-line or a hair low depending on which basket of analysts you compare it to. Earnings per share of $0.89 was 1-3 pennies lower than those analyst projections, but that’s within the usual error bars. Price cutting in response to the likes of T-Mobile helped cut margins a bit as the total retail subscriber number rose to 106.2M.
On the wireline side, FIOS was up while they continued to lose the usual amount of ground in the overall enterprise and wholesale businesses. Sales of strategic services to enterprises, i.e. the new stuff that isn’t under as much pressure, were up 1.0% over the same period last year.
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