Verizon Earnings Meet Expectations - TheStreet

Verizon

(VZ) - Get Report

posted third-quarter earnings that met analysts' expectations, amid robust demand for its new services.

The communications provider, formed through the merger of

Bell Atlantic

and

GTE

, reported adjusted earnings of $2.0 billion, or 73 cents a share, compared with $2.0 billion, or 72 cents a share, in the third quarter of 1999. Third-quarter 1999 results have been adjusted to include

Vodafone's

(VOD) - Get Report

U.S. wireless properties that were combined into

Verizon Wireless

this year. A

First Call/Thomson Financial

poll of 12 analysts called for a consensus estimate of 73 cents a share.

Quarter revenue was $16.5 billion, up from $15.4 billion last year. The company added 806,000 Verizon Wireless customers, giving Verizon Wireless a total of 26.3 million customers. Wireless revenues for the quarter were $4.1 billion, 17.6% higher than in last year's third quarter.

Verizon also said it expects fourth-quarter earnings of between 76 cents to 78 cents a share and revenue growth in 2001 of 8% to 10%. Analysts on average expect fourth-quarter earnings of 77 cents a share, $2.92 a share in 2000 and $3.07 in 2001.