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Verizon Communications Q3 EPS 99 cents per share

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Staff writer ▼ | October 20, 2015
Fueled by wireless and fios connections growth and continued customer loyalty, Verizon Communications reported third-quarter 2015 earnings of 99 cents per share, or $1.04 per share on an adjusted basis (non-GAAP).
Verizon Communications
Verizon Communications   Total operating revenues were $33.2 billion
This compares with EPS of 89 cents in third-quarter 2014. Third-quarter 2015 earnings included a 5 cent per share non-cash charge due to a re-measurement triggered by a pension settlement accounting threshold.

Total operating revenues in third-quarter 2015 were $33.2 billion, a 5 percent increase compared with third-quarter 2014. Current-quarter revenues include results from AOL. The comparable year-over-year growth rate excluding AOL (non-GAAP) would have been 3.1 percent.

Year-to-date consolidated revenue growth was 3.3 percent, after adjusting for the inclusion of AOL in the third quarter and the sale of the public sector business in 2014 (non-GAAP). On this same basis, Verizon continues to expect consolidated revenue growth of at least 3 percent for full-year 2015.

New revenue streams from the Internet of Things (IoT) totaled approximately $175 million in third-quarter 2015 and about $495 million year to date. In August Verizon launched hum tm, a telematics service that creates a smart, connected driving experience with an addressable market of 150 million vehicles in the U.S.

Cash flow from operating activities increased to $28.4 billion at the end of third-quarter 2015, compared with $23.2 billion at the end of third-quarter 2014. This year’s cash flow included a non-recurring $2.4 billion related to the monetization of tower assets in the first quarter.

Excluding the tower transaction, free cash flow (non-GAAP, cash flow from operations less capital expenditures) totaled $13.5 billion at the end of third-quarter 2015. Verizon continues to expect full-year 2015 capital expenditures to range between $17.5 billion and $18.0 billion.