Verizon Stock Slides As Weak Subscriber Gains Cloud Q3 Earnings Beat

Verizon Communications  (VZ)  posted better-than-expected second quarter earnings Friday, but added fewer new subscribers to its monthly plans following an early summer price hike.

Verizon said adjusted non-GAAP earnings for the three months ending in September were pegged at $1.32 per share, down 7% from the same period last year and just shy of the Street consensus forecast of $1.29 per share. Group revenues, Verizon said, rose 4% from last year to $33.8 billion, just ahead of analysts’ estimates of a $33.78 billion tally.

Source: https://www.thestreet.com/markets/verizon-stock-lower-as-weak-subscriber-gains-cloud-q3-profit-beat?puc=yahoo&cm_ven=YAHOO&yptr=yahoo