Verizon Misses Profit Estimates as Discounts Trim Margins
This article is for subscribers only.
Verizon Communications Inc., the largest U.S. wireless carrier, missed profit estimates as more new subscribers took advantage of discounts on devices.
Third-quarter earnings of 89 cents a share missed the average analysts’ projection of 90 cents. Sales climbed 4.3 percent to $31.6 billion, the New York-based company said today in a statement, in line with the average estimate of analysts, according to data compiled by Bloomberg.