Verizon Communications (NYSE: VZ) reported earnings on Oct. 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Verizon Communications met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded and GAAP earnings per share expanded.

Margins grew across the board.

Revenue details
Verizon Communications recorded revenue of $29.01 billion. The 28 analysts polled by S&P Capital IQ anticipated revenue of $28.98 billion on the same basis. GAAP reported sales were 3.9% higher than the prior-year quarter's $27.91 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.64. The 33 earnings estimates compiled by S&P Capital IQ predicted $0.64 per share. GAAP EPS of $0.56 for Q3 were 14% higher than the prior-year quarter's $0.49 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 62.1%, 290 basis points better than the prior-year quarter. Operating margin was 18.9%, 230 basis points better than the prior-year quarter. Net margin was 5.5%, 60 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $29.61 billion. On the bottom line, the average EPS estimate is $0.59.

Next year's average estimate for revenue is $115.36 billion. The average EPS estimate is $2.47.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 4,605 members out of 4,891 rating the stock outperform, and 286 members rating it underperform. Among 1,086 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,036 give Verizon Communications a green thumbs-up, and 50 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Verizon Communications is outperform, with an average price target of $44.64.

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