Verizon 3Q profit soars

Written By Unknown on Kamis, 17 Oktober 2013 | 19.50

VERIZON is reporting a 40 per cent jump in third-quarter net income after adding more than 1 million new wireless devices to its network.

The largest US mobile phone carrier earned $US2.23 billion ($A2.34 billion), or 78 US cents per share, up from $US1.59 billion, or 56 US cents per share, in the same quarter of 2012. Excluding one-time items, the company posted an adjusted profit of 77 cents per share for the recent quarter.

Revenue rose 4 per cent to $US30.28 billion from $US29.01 billion.

The results on Thursday beat Wall Street predictions.

Analysts polled by FactSet expected a profit of 74 US cents per share on $US30.15 billion in revenue.

The company added 1.1 million net retail wireless connections during the quarter.

Shares of Verizon Communications Inc. are up 3 per cent to $US48.80 in premarket trading.


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