Verizon (NYSE, NASDAQ: VZ) is hanging tough after a down performance in 2Q22. In its 3Q22 earnings, the company reported progress on its wireless and wireline network build outs and maintained its guidance for a strong finish to 2022 with growth momentum carrying into 2023. It’s not clear sailing yet though; its profits declined in the quarter.
Consolidated revenues grew four percent year-over-year to $34.2 billion but Adjusted EBITDA declined slightly. Cash flow from operations dropped 10 percent to $28.2 billion in the first nine months compared to the same period a year ago. Free cash flow through that period was $12.4 billion, down 28 percent. Year-to-date capital expenditures were $15.8 billion, up 14 percent YoY. Continue Reading |
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