Verizon Beats Earnings Estimates on Stronger User Gains

Verizon Communications Inc., the largest U.S. wireless carrier, exceeded profit estimates on stronger customer gains even as rivals including T-Mobile US Inc. brought more price competition to the industry.

Second-quarter earnings, excluding some items, of 91 cents a share beat the 90 cents that analysts projected on average. While subscriber growth drove the profit gains, wireless margins and the size of customers’ phone bills were smaller than analysts expected.