3 Telecom Stocks Seeing Action: Verizon Beats Expectations, T-Mobile Dumps Plans, AT&T’s New Data Pass
Verizon Communications (NYSE:VZ): Verizon shares are up after the company reported earnings per share of 77 cents, beating by 3 cents. Revenues of $30.28 billion also beat projections, by $0.11 billion. Net subscriber adds totaled 1.1 million, with 927,000 retail postpaid net adds. Service revenue rose 8.4 percent in the third quarter, even and outpacing subscriber growth; the wireless operating margin was 33.8 percent, up 140 bps over the second quarter and up 200 bps over 2012. About 67 percent of retail postpaid subs now use smartphones, up from 64 percent in last quarter, and 42 percent use a shared data plan.