Verizon (VZ) shares fell about 3.5% in the afternoon session after the company reported third-quarter revenue of $34.31 billion, up 1.5% year over year but below the $34.77 billion consensus, as wireless equipment revenue dropped 9%. Adjusted earnings were $1.31 per share, above the $1.27 consensus and up from $1.21 a year earlier. Mobility and broadband service revenue rose 2.9% to $23.5 billion, while adjusted EBITDA climbed 8% to $13.8 billion, with the margin widening to 40.2% from 37.8%. Free cash flow reached $7.8 billion, up 12%, and Verizon raised full-year guidance for a third straight quarter, including adjusted earnings of $5.04 to $5.06 per share. The company also signed an agreement worth more than $2 billion with Amazon Web Services to supply high-capacity fiber for AI data centers.
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