Verizon added 406,000 postpaid phone subscribers in the third quarter, roughly double the 209,439 analysts expected, according to CNBC, citing Visible Alpha.

Revenue of $34.3 billion missed the $34.74 billion LSEG estimate. The company also announced a fiber deal with Amazon Web Services worth more than $2 billion to support AI infrastructure.

Key numbers

  • Net income rose 5.2% to $5.3 billion. Adjusted earnings were $1.31 a share, up 8.3%, Verizon said.
  • Postpaid phone churn was 0.94%.
  • Verizon added 314,000 broadband customers, including 159,000 fixed wireless and 155,000 fiber.
  • Free cash flow so far this year reached $7.8 billion, and adjusted EBITDA hit a record $13.8 billion.

Raised guidance

Verizon now expects 1.1 million to 1.2 million postpaid phone adds for the year, up from 750,000 to 1 million, and adjusted earnings of $5.04 to $5.06 a share, up from $4.99 to $5.04, CNBC reported.

"Verizon delivered another record-breaking quarter," CEO Dan Schulman said. Schulman has led the company for about a year.

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