Why Verizon (VZ) stock is down today

Shares of telecommunications giant Verizon (NYSE:VZ) fell 3.5% in the afternoon session after the company reported third-quarter revenue below estimates, overshadowing strong postpaid phone additions and a $2 billion agreement with Amazon. According to the company’s press release, Verizon reported third-quarter revenue of $34.31 billion, up 1.5% from a year earlier and below the $34.77 billion consensus. Adjusted earnings were $1.31 a share, up from $1.21 a year earlier and above the $1.27 conse