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Verizon Beats Third Quarter Earnings on Strong US Wireless Numbers

  +Follow October 17, 2013 10:27AM
Tickers Mentioned:

Verizon Communications Inc. (VZ) posted third quarter earnings on Oct 17, and the telecom giant exceeded Wall Street estimates on strong American wireless sales. The earnings beat follows the agreement of a blockbuster deal in September between Verizon and Vodafone plc (VOD) wherein Verizon buys out Vodafone’s 45 percent share in their wireless division for $130 billion.

The Global Telecom Shuffle

The biggest telecom companies on the planet have been divvying up markets since the Vodafone-Verizon deal. With the deal, Verizon has let enterprise and wireline dwindle while focusing on becoming the leader in American wireless, a division that now accounts for 67 percent of their revenue and the majority of their growth.

Other telecoms have followed suit, attempting to carve out their own niche. Vodafone will most likely take over Verizon’s stake in Italian wireless. In turn, several players have been jockeying for some time over the fate of Italian telecom Telecom Italia Spa (TI) , who have a major foothold in the burgeoning Latin American market.

 Verizon is the largest cellular provider in the US, and looks to continue focusing the majority of their business in that market and stave off rivals T-Mobile US Inc. (TMUS) , who is looking to improve its 4G network in the US, and AT&T Inc. (T) who is eyeballing expansion into Europe.

The Numbers

The company added 927,000 wireless subscribers, and sold 7.6 million smartphones for Apple Inc. (AAPL) . While the subscriber numbers were down, the company beat revenues and earnings estimates slightly, boding well as they move into the traditionally higher-cost holiday season.

For the third fiscal quarter, Verizon reported net income of $2.2 billion, or $0.77 per share, versus the $1.59 billion, or $0.56 per share, from the same period a year ago. Revenue for the quarter was $30.28 billion, as compared to $29.01 billion from the previous year. Analysts were expecting a profit of $0.73 per share on revenues of $30.16 billion.

Verizon was up in midday trading, gaining 3.32 percent to hit $48.82 a share.


(image courtesy of WIkimedia Commons)

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Results for vz
Heath Sterling
20 Sep 14 10:15:23
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$ELRA closed up 288.89% on over 315 MILLION Volume! Get our new penny stock picks: http://t.co/qloC4OFNEn $GM $KSS $VZ
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$VZ:US 20Sep Positive News #Sentiment http://t.co/ddVrchfcvE #DJ30
20 Sep 14 03:03:01
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Antonio Costa
19 Sep 14 23:17:22
accumulation/distribution 3-month high $MSFT $FB $CSCO $VZ $DISCA $UHS $ING $DTV $MO $HTA $PPL $AMGN $VRTX $ZTS $P $POT $WDAY $LGF $GOOGL
19 Sep 14 21:52:49
My local $AAPL Store (sold out/today), I went to a $VZ store. Got 1 of the last 64gb black 6's. No biggie. +gave me $200 for@my old 4s.
Alfred English
19 Sep 14 20:45:18
RT @FranklinForward: Looking at phone plan packages and $TMUS plan pricing makes $T and $VZ look silly.
Andy Loeffler
19 Sep 14 20:22:57
@loefflercraig and that's only day 1. I'm sure this is multiple week craziness. #commissions $VZ
19 Sep 14 20:21:50
RT @RiskReversal: Per @FactSet if $BABA were in the S&P 500 would be 12th largest by market cap in between $PG and $VZ http://t.co/I0tCgXsC…
gordon gekko is god
19 Sep 14 19:21:16
Verizon Can Defend Mobile Growth From Price Competition http://t.co/dq354Og0e0 $VZ, $T, $TMUS, $S
JD Sanders
19 Sep 14 18:58:10
Skip the Contract: Buying the iPhone 6 Outright Is a Better Deal http://t.co/vZcSYb4O0e via @daily_finance $VZ $TMUS $T #iPhone6
Melissa Grajales
19 Sep 14 18:20:42
Skip the Contract: Buying the iPhone 6 Outright Is a Better Deal http://t.co/sTyeV9CYXp via @daily_finance $VZ $TMUS $T
Stocks Pastor
19 Sep 14 17:52:05
Lots of bullish actions on $MSFT, $SLV, $VZ, $TZA, $JCP, $DPS, $XLI and $EEM today. Watch them next week.
Jet Life PennyStock$
19 Sep 14 16:40:04
insymbols: $VZ Chart http://t.co/SMtHGoY8Ph
Kevin Druff
19 Sep 14 16:29:48
@daringfireball unsubsidized phones don’t get a cheaper monthly plan with &t or $vz @gruber
19 Sep 14 16:03:03
S&P500 #Stocks Trend $VRTX $COL $EXC $MSFT $DRI $ACT $CCL $NRG $PEG $AMGN $ZTS $GOOGL $VZ $HUM $DPS $WHR $INTU @ http://t.co/RPeaHBZz9y
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19 Sep 14 16:01:41
S&P100 #Stocks Performance $AMZN $EXC $MSFT $AMGN $VZ $FB $GOOG $AEP $PM $SO $MCD $T $RTN $WMT $BMY $COP more@ http://t.co/n4QZIDxy7w
19 Sep 14 16:01:24
Dow #Stocks Trend $MSFT $VZ $T $KO $JNJ $BA $DD $MMM $JPM $PFE $PG $GE $IBM $TRV $AXP $GS $V $WMT $MRK $UNH $MCD @ http://t.co/TvzJfd0RGT
Woll Street
19 Sep 14 15:46:49
$T $VZ strong B/O moves today...
19 Sep 14 15:41:13
Verizon Communications Inc (VZ) 50.35 $VZ Most active New York Stock Exchange-traded stocks AP - 38 mins ago N http://t.co/2XZT0vWJRE
19 Sep 14 15:40:16
VZ 50.35 Stock Charts $VZ Verizon Communications Inc. (NYSE) Last Updated: 09/19/2014 17:40:26 VZ Stock Chart http://t.co/yeaSJ7F8Db
Stock Signaling
19 Sep 14 15:31:16
Upgraded Stocks Active After Hours: $PDLI $CNQR $GNC $MDLZ $AEO $LBMH $HIG $VNET $UA $JPM $VZ $MSFT $AVNR $TMUS $CSIQ http://t.co/Vtx6dLy0Nw
19 Sep 14 14:40:47
Looking at phone plan packages and $TMUS plan pricing makes $T and $VZ look silly.
US Banking News
19 Sep 14 14:14:03
Investors Buy Large Volume of Verizon Communications Put Options $VZ http://t.co/OooacGK3JB
US Banking News
19 Sep 14 14:13:57
Verizon Communications Sees Unusually Large Options Volume $VZ http://t.co/98dSYBi7US
19 Sep 14 14:05:46
Verizon Communications Sees Unusually Large Options Volume $VZ http://t.co/HfcTD1qH71
19 Sep 14 13:52:05
Dow Jones ganó 0.08% colocándose en 17,279.74 unidades con las emisoras $VZ y $MCD liderando la sesión #mercados
19 Sep 14 13:50:09
Exclusive: France's Iliad sets mid-Oct deadline for T-Mobile US bid - sources http://t.co/HVtuMhJwwM $ILD $VZ $S $KKR
19 Sep 14 13:38:41
Microsoft Corporation (MSFT) Tops DJIA Gainers for September 19 $MCD $vz $MSFT http://t.co/xPcQou9Z0p
19 Sep 14 13:13:25
So $VZ & other carriers jumped in afternoon because of huge iPhone 6 sales, but $AAPL shares fell? Options, I assume; Good support high 90's
Klaus Daimler
19 Sep 14 13:04:49
@TheDomino That and the NFL is probably $VZ biggest advertising platform.
Large Void Bot
19 Sep 14 13:00:44
19 Sep 14 12:59:17
S&P100 #Stocks Performance $AMZN $EXC $KO $MCD $FOXA $AMGN $VZ $GILD $AEP $PM $CVX $XOM $BMY $SO $COP $LMT more@ http://t.co/n4QZIDxy7w
19 Sep 14 12:59:00
Dow #Stocks Trend $KO $MCD $T $JNJ $BA $MMM $DD $JPM $PFE $GS $UNH $VZ $MSFT $PG $GE $V $IBM $TRV $AXP $HD $WMT @ http://t.co/TvzJfd0RGT
Yu Zhu
19 Sep 14 12:54:44
RT @RiskReversal: Per @FactSet if $BABA were in the S&P 500 would be 12th largest by market cap in between $PG and $VZ http://t.co/I0tCgXsC…
Yellen's Yodel ™
19 Sep 14 12:44:51
Heading into final 15 minutes Losers- $SDRL $ORCL $SLW Winners- $EEP $GLNG $VZ Bought- $SDRL Sold- $BHP
19 Sep 14 12:35:36
RT @RiskReversal: Per @FactSet if $BABA were in the S&P 500 would be 12th largest by market cap in between $PG and $VZ http://t.co/I0tCgXsC…
19 Sep 14 12:35:02
60m $VZ Upper Trendline Pressure 50.180 #futures #stocks 02:49:17 PM http://t.co/WZwETG8am0 Signals based o... http://t.co/WZwETG8am0
Ravi Romo
19 Sep 14 12:30:23
RT @barronstechblog: Apple Lines Long, Analysts Triangulate First-Weekend Sales - Tech Trader Daily - Barron's $AAPL $T $VZ $TMUS $S http:/…
19 Sep 14 12:29:29
$VZ Heading Higher into the close!
Dan Nathan
19 Sep 14 12:25:58
Per @FactSet if $BABA were in the S&P 500 would be 12th largest by market cap in between $PG and $VZ http://t.co/I0tCgXsCeu
Stock Wire
19 Sep 14 12:20:48
Why Verizon (VZ) Stock Is Climbing Today $VZ http://t.co/TmL9FqCkRX
Corey Rosenbloom
19 Sep 14 12:17:13
New Highs Again and Trending $SPX Stock Scan for Reversal Day Sept 19 $VZ $GRMN http://t.co/jaHbzl5VM9 #mkt $$
  +Follow October 17, 2013 10:27AM



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