Shares of Verizon Communications Inc. were up nearly 2% in premarket on Thursday after the company reported third quarter profit and revenue above Wall Street expectations. The wireless, internet and TV provider reported net income of $3.74 billion, or 89 cents per share, compared with $3.75 billion, or 89 cents per share during the same period a year ago. Per share earnings excluding special items was 98 cents, above FactSet’s 97 cents per share consensus. Revenue for the quarter was $31.72 billion, up from $30.94 billion. FactSet’s consensus on revenue was $31.44 billion. Verizon said it added 66,000 Fios internet subscribers and lost 18,000 subscribers in video, which the company said reflects the shift from traditional linear video to internet streaming. Verizon said Fios revenue increased 4.8%. In wireless, Verizon added 30,000 postpaid customers, after a loss of 107,000 customers in the year earlier period. Shares of Verizon are down nearly 9% in the year to date, while the S&P 500 index is up more than 14% and the Dow Jones Industrial Average is up more than 17%.
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