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Verizon earns 3,677 million in the third quarter, 16.1% less

The US telecommunications company Verizon posted an attributable net profit of 4,357 million dollars (3,677 million euros) in the third quarter of 2020, which represents a decrease of 16.1% compared to the same period last year, according to the quarterly accounts published this Wednesday by the company.

Turnover between July and September reached 31,543 million dollars (26,601 million euros), 4.1% less. Revenues from services fell 1.2%, to $ 27,431 million (€ 23,133 million), while those from the sale of mobile phones contracted 20%, to $ 4,112 million (€ 3,467 million ).

The cost of the services provided increased by 0.7%, to 7,955 million dollars (6,708 million euros), while that of the equipment sold fell by 20.1%, to 4,379 million dollars (3,692 million euros) . On the other hand, selling, general and administrative expenses rose 1.7%, to 7,339 million dollars (6,189 million euros).

At the end of the quarter, Verizon added 1.75 million customers compared to a year earlier, to 120.32 million. Of that number, 116.2 million were contract customers, while 4.1 million were prepaid.

In the whole of the first nine months of 2020, the net attributable profit fell by 6.8%, to 13,213 million dollars (11,142 million euros), while the turnover stood at 93,600 million (72,928 million euros) , 3.6% less.

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