Verizon Profit Tops Estimates On Wireless Growth

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Verizon Communications Inc said on Thursday that quarterly earnings were a penny better than analysts' expectations on strong growth at its Verizon Wireless venture with Vodafone Group Plc.

Verizon Profit

Verizon Communications Inc said on Thursday that quarterly earnings were a penny better than analysts' expectations on strong growth at its Verizon Wireless venture with Vodafone Group Plc.

Verizon Wireless said it added 941,000 subscribers in the quarter, compared with the average expectation for 836,500 from six analysts contacted by Reuters. Estimates ranged from 700,000 to 909,000.

Verizon's earnings rose to $2.25 billion, or 78 cents per share, from $1.83 billion, or 64 cents, in the year-ago quarter.

Excluding a pension-related gain, it earned 73 cents per share, compared with expectations for 72 cents, according to Thomson Reuters I/B/E/S.

Operating revenue was up 4.3 percent to $29.8 billion from $28.55 billion but slightly shy of estimates of $29.83 billion.

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