Verizon Profit, Revenue Rise but Postpaid Phone Losses Continue

Financial Performance - Verizon Communications reported a profit of $5.06 billion, or $1.17 per share, for the third quarter, compared to $3.41 billion, or 78 cents per share, a year earlier [3] - Revenue increased by 1.5% to $33.82 billion, although it fell short of Wall Street's expectation of $34.26 billion [5] - Adjusted per-share earnings were $1.21, slightly above the analysts' forecast of $1.19 [4] Customer Metrics - The consumer segment saw a revenue increase of 2.9%, but the company experienced a loss of 7,000 wireless retail postpaid phone customers [1] - Business revenue declined by 2.8%, despite gaining 51,000 postpaid phone net additions [2] - Wireless service revenue, the largest business segment, rose 2.1% year-over-year to $21 billion [2] Broadband and Fixed-Wireless Access - Verizon added 306,000 broadband connections, bringing the total to over 13.2 million connections [2] - The company also added 261,000 new fixed-wireless access connections [2] Future Outlook - Verizon remains confident in its full-year guidance, expecting total wireless-service revenue growth of 2% to 2.8% and adjusted per-share earnings to rise by 1% to 3% [5] - The company appointed Daniel Schulman as the new CEO earlier this month, as it faces intense competition in the telecommunications industry [6]