Verizon earnings up off 'healthy' demand

Verizon shares dipped slightly after its third-quarter earnings per share missed estimates. However, the telecommunications giant reported double-digit growth off "healthy" demand for broadband and wireless services.

The company reported earnings per share of 89 cents. Analysts surveyed by FactSet were expecting earnings of 90 cents per share. Verizon also reported $31.6 billion in revenue, a 4.3% increase from last year.

For the quarter, Verizon added 1.5 million retail connections through its wireless division. In the broadband space, Verizon finished the quarter with 6.5 million FiOS connections, a 8.8% jump year-over-year.

"We see continued, healthy customer demand for wireless and broadband services, and we are encouraged by the growth we are starting to see in the areas of video delivery and machine-to-machine," said Verizon CEO Lowell McAdam in a statement.

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Contributing: Associated Press