https://wccftech.com/verizon-third-quarter-earnings-anything-to-write-home-about/

Verizon (NYSE:VZ) held their earnings call today which was mostly inline with analyst expectations beating on earnings by $0.01 for an earnings per share (EPS) of $1.25 on quarterly revenue of $32.894 billion which also was above the analyst estimates of $32.74 billion. The company was flat in trading throughout the day as there were not any unexpected surprises from the earnings call and future guidance was maintained. The company had previously announced a partnership to offer free to its customers a 12-month subscription to Disney+ for qualifying customers. The company noted that it had added 239,000 new customers this quarter which was an improvement from last year which saw only 112,000 customers added in the same timeframe.  The new customer adds included 193,000 retail postpaid net additions which are the top tier customers for the wireless business. The wireless giant saw a postpaid churn of 1.05% which is typical of the company and signifies the percent of users who dropped service over the time period. 

Capital expenditures (Capex) for the company totaled $12.3 billion through the third quarter of 2019.  The CAPEX spending was used to support the build-out of Verizon’s 5G Ultra Wideband network and to also support the growth of data and video traffic on the company’s current LTE network.  The company expects to spend up to $18 billion for the full year in CAPEX to support the launch of 5G. They had also committed in 2018 to achieve $10 billion in cumulative cash savings by 2021 and have so far managed to yield a cash saving of $4.6 billion as of the third quarter of 2019.