Verizon signs AI infrastructure deal valued at over $2 billion with Amazon Web Services
AMZN•Verizon signed an AI infrastructure deal valued at over $2 billion with Amazon Web Services. Its third-quarter adjusted EPS was $1.31, postpaid phone net additions were 406,000 and revenue was $34.3 billion; it reaffirmed its capital expenditure forecast and expects full-year adjusted EPS of $5.04 to $5.06.
1. Results and outlook
Verizon reported third-quarter adjusted EPS of $1.31, against an estimate of $1.27, and revenue of $34.3 billion, versus an estimate of $34.74 billion. Postpaid phone net additions were 406,000, while broadband net additions were 314,000. Verizon expects full-year adjusted EPS of $5.04 to $5.06 and total postpaid phone net additions of 1.1 million to 1.2 million, and reaffirmed its full-year capital expenditure forecast.
2. AI infrastructure deal
Verizon signed an AI infrastructure deal valued at over $2 billion with Amazon Web Services. Verizon expects full-year mobility and broadband service revenue growth in the upper half of its 2.5% to 3% range, with about 4% growth in the fourth quarter.
