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Verizon (VZ) Stock Down on Soft Q3 Revenue

NEW YORK (TheStreet) -- Shares of Verizon Communications (VZ) were slumping in pre-market trading on Thursday after the company posted lower-than-anticipated revenue for the 2016 third quarter.

Before the opening bell, the New York-based telecom company reported revenue of $30.9 billion, while analysts were expecting revenue of $31.1 billion.

Adjusted earnings of $1.01 per share topped analysts' estimates for earnings of 99 cents per share.

Verizon reported 442,000 retail postpaid net additions during the period.

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