Verizon Communications (VZ) Reports In-Line Q3 EPS

Verizon Communications (NYSE: VZ) reported Q3 EPS of $0.98, in-line with the analyst estimate of $0.98. Revenue for the quarter came in at $31.72 billion versus the consensus estimate of $31.45 billion.

Wireless: 603,000 retail postpaid net additions, including 486,000 postpaid smartphone net adds; retail postpaid churn of 0.97 percent, with strong customer loyalty demonstrated by retail postpaid phone churn of 0.75 percent -- less than 0.90 percent for the 10th consecutive quarter.

Outlook and forward-looking items

Verizon expects the following:

• Full-year 2017 consolidated revenues, on an organic basis, to be fairly consistent with 2016, with improvement in wireless service revenue and equipment revenue trends; also, full-year 2017 consolidated adjusted EPS trends to be similar to consolidated revenue trends;
• Consolidated capital spending for 2017 to be at the lower end of the range of $16.8 billion to $17.5 billion; and
• The 2017 effective tax rate to be around 34 percent, excluding impacts from potential tax reform

For earnings history and earnings-related data on Verizon Communications (VZ) click here.

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