Verizon Communications Inc. (NYSE: VZ) shares edged higher Wednesday after the telecom giant reported stronger-than-expected third-quarter earnings and subscriber growth, even as revenue fell short of Wall Street expectations. The stock was recently trading at $39.32, up about 0.2% in midday trading, as investors weighed the company's mixed results and leadership transition.
Verizon posted adjusted earnings per share of $1.21, topping analysts' consensus estimate of $1.19, according to Reuters. The company added 44,000 postpaid wireless phone subscribers, more than double the roughly 19,000 additions expected by analysts. Verizon also reaffirmed its full-year financial guidance, signaling confidence in its operations despite a challenging competitive environment.
