Verizon (VZ) reported third-q𝄹uarter results below analysts' expectations Tuesday morning, despite continuing to add wireless phone and internet subscribers.

The telecommunications giant reported $33.33 billion in revenue, roughly flat year-over-year and slightly below analysts' consensus estimates compiled by Visible Alpha. Profit fell well short, declining 30% to $3.41 billion, or 78 cents per share, more than $1 billion short of expectations.

Verizon said its lackluster profit numbers were because of more than $2.3 billion in one-time charges for acquisitions, severance costs, and other charges. Excluding special items, Verizon's adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) came in a penny above estimates at $1.19.

The company said last month it expects to lose about 4,800 employees through a buyout program by March 2025, which accounted for $1.7 billion of the $2.3 billion in one-time charges in the Q3 report.

CEO Says Verizon Set Up for 'Disciplined Growth'

CEO Hans Vestberg said the company's recent announcements like the 澳洲幸运5官方开奖结果体彩网:$20 billion acquisition of Frontier Communications (FYBR) and a $3.3 billion deal to lease thousands of communications towers "have set Verizon up for disciplined growth, now and into the future."

Verizon also affirmed its full-year adjusted EPS gu𒁃idance of $4.50 to $4.70.

Verzon shares were down almost 4% aꦿt $42.06 about 30 minutes bef꧒ore the opening bell Tuesday.