Verizon Tops Profit Estimates With Solid Subscriber Gains
- Phone financing, bigger data offers lure 1.3 million new users
- Verizon introduced a free mobile-video service last month
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Verizon Communications Inc., the largest U.S. wireless carrier, posted third-quarter profit that exceeded analysts’ estimates after sales promotions and tablet deals helped lure more subscribers even as smaller rivals cut prices.
Earnings excluding some items were $1.04 a share, the New York-based company said in a statement Tuesday. That compares with the $1.02 average of estimates compiled by Bloomberg. Verizon added 1.3 million new monthly subscribers in the period, compared with 1.5 million a year earlier. The gains topped the 1.1 million average projection of five analysts surveyed by Bloomberg.