How Did Verizon Fare in 3Q17?

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How Did Verizon Fare in 3Q17? PART 1 OF 10

Verizon Meets Earnings Expectations in 3Q17

Verizon’s earnings over the past few quarters

Verizon Communications (VZ) reported stronger-than-expected 3Q17 earnings, with its wireless business rebounding to show another strong quarter of subscriber growth in a highly competitive environment. In 3Q17, Verizon’s earnings met the Wall Street analysts’ consensus earnings estimate, but its adjusted EPS (earnings per share) fell ~3.0% YoY (year-over-year) to $0.98 on the exclusion of one-time items.

Verizon Meets Earnings Expectations in 3Q17

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Verizon’s major competitors had a much better 3Q17. AT&T’s (T) adjusted EPS remained flat YoY to reach $0.74 in 3Q17. T-Mobile’s (TMUS) EPS grew ~50.0% YoY to reach $0.63 in 3Q17.

Meanwhile, Sprint’s (S) EPS improved from a loss of $0.04 in fiscal 2Q16 to an EPS loss of $0.01 in fiscal 2Q17 (quarter ending September 2017).

Verizon optimistic about digital media

Verizon foresees that wireless video and IoT (Internet of Things) will likely be front-runners in driving data usage, revenue, and earnings as the traditional US wireless smartphone market becomes saturated. Organically, in 3Q17, Verizon’s IoT and telematics revenues grew ~13.1% YoY to reach $251 million.

In order to boost its position in the advertising and digital media space, the Yahoo acquisition will likely play a crucial role in Verizon’s future campaign. Verizon concentrates on becoming a significant digital advertising player like the industry giant Alphabet (GOOGL) and Facebook (FB).

In the next part, we’ll look at Verizon’s total revenue growth in 3Q17.


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