Verizon Communications Inc. topped earnings estimates for its latest quarter but came up a bit short on revenue as the company continued to see low customer churn.The telecommunications company posted third-quarter net income of $6.5 billion, or $1.55 a share, up from $4.5 billion, or $1.05 a share, in the year-earlier quarter. On an adjusted basis, Verizon earned $1.41 a share, up from $1.25 a share in the year-prior period and ahead of the FactSet consensus, which called for $1.37 a share.
Verizon’s revenue increased to $32.9 billion from $31.5 billion, whereas analysts were expecting $33.2 billion. The total includes two months of performance from Verizon Media, or about $1.4 billion in revenue. Read: The 5G race heats up further with wireless auction that could draw more than $30 billion in spending
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