The company reported non-GAAP earnings of 98 cents a share, while analysts expected non-GAAP earnings of 97 cents, according to FactSet. Revenue of $31.7 billion grew 2.5% from the third quarter a year ago and topped forecasts of $31.4 billion.
Verizon said that the storms in Florida and Texas reduced earnings by 1 cent a share.
Shares of Verizon rose 2.2% in premarket trading on Thursday.
Operating revenue from wireless services -- a closely watched figure for wireless carriers -- declined 5.1% from a year ago to $15.8 billion. However, Verizon said that service revenue increased from the prior quarter for the first time in three years.
The company added 274,000 net post-paid phones, topping forecasts of 195,000.
Verizon lost 18,000 net FiOS video subscribers during the quarter, which the telecom attributed to cord-cutting as traditional pay-TV customers shift to online services. Total video subscribers came to 4.6 million.
Chief Finacncial Officer Matt Ellis will address the financials in a call at 8:30 a.m. ET. Investors will listen for details about the impact of less generous iPhone promotions this year, the telecom's preparations for 5G, and the fallout from a larger-than-previously-announced data breach at Yahoo!
The third quarter is also the first full earnings period in which Yahoo! has been a part of Verizon's Oath digital media platform.
Verizon's Oath digital media business, which includes AOL and Yahoo!, generated $2 billion in third quarter revenue. The company said integration of AOL and Yahoo! is ahead of schedule.
Investors will want updates on the impact of security breaches at Yahoo! that Verizon disclosed earlier in October. The telecom disclosed that 3 billion Yahoo! user accounts were compromised as part of a 2013 breach -- triple the number that Yahoo! first disclosed last year.
Investors will want some guidance about Verizon's media strategy. Chairman and CEO Lowell McAdam said at an investor conference in September that Verizon would likely announce a big media deal later that month.
Earlier this month Verizon said that media boss Marni Walden will leave the company in February. Former AOL CEO Tim Armstrong will oversee the Oath properties.
Ellis will likely discuss Verizon's 5g wireless broadband trials during the call. Verizon said in its earnings release that it will share results from the trials later in the fourth quarter.
This story has been updated from 7:43 a.m. ET.
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