Verizon increased its consolidated revenue by 4.3% and increased EPS by 14.1% year-over-year. The main drivers of this growth were FiOS add-ons and an increased number of wireless devices.
These increases lead to a strong free cash flow position at both telecoms. AT&T generated $9.5 billion in free cash flow from operating activities, and returned more than $5.7 billion to shareholders via repurchases and buybacks. Verizon also generated $9.5 billion in free cash flow, and reduced debt outstanding by $2.6 billion
