Verizon reported its Q3 earnings before the bell rang on Wednesday. The telecommunications giant reported an adjusted profit of $1.41 a share, beating forecasts for $1.36 a share, on sales of $$32.9 billion, below expectations for $33.2 billion.
Net income rose by 45% to $6.6 billion, compared to third-quarter 2020, and adjusted EBITDA was up 3.3% to $12.3 billion, in comparison with third-quarter 2020. 129,000 total broadband connections were added during Q3 2021
“We had a strong third quarter, delivering on our strategy and growing in multiple areas,”
“Our disciplined strategy execution demonstrated growth in 5G adoption, broadband subscribers and business applications. We are increasing our 2021 guidance, and we continue to expand our 4G LTE and 5G network leadership. We fully expect to have a strong finish to the year as we accelerate deployment of 5G to our customers across the country.”Verizon Chairman and CEO Hans Vestberg
Verizon also raised its guidance to a range of $5.35 to $5.40 from a range of $5.25 to $5.35. That’s above analyst expectations for $5.31. It also expects total wireless