Verizon Communications Inc. (VZ), the New York-based telecommunications giant, announced earnings for its third quarter of fiscal year 2013 (3QFY13) on October 17. The company seems to be doing well, and has beat analyst estimates for both revenues and earnings per share (EPS) for the quarter.
Verizon’s per share earnings of $0.78 beat estimates by $0.03, posting 16% growth over the year-ago quarter. In comparison, Verizon’s most significant competitor – AT&T Inc. (T) – posted slower growth of 14.28% year-over-year (YoY) for the comparable period.
Verizon’s total operating revenues grew to $30.28 billion, up 4.4% compared to 3QFY12. Net income from Verizon Wireless totaled $2.23 billion, and is expected to increase going forward as Verizon completes its repurchase of a 45% stake in Verizon Wireless held by the Vodafone Group Plc (VOD).
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