Verizon beats quarterly profit estimates

April 23, 2019

(Reuters) – Verizon Communications Inc on Tuesday reported a better-than-expected quarterly profit as the largest U.S. wireless carrier prepares for a wider 5G rollout across the United States.

The biggest U.S. wireless carrier by subscribers, however, said it lost a net 44,000 phone subscribers during the first quarter. Analysts had expected a loss of 25,000 subscribers, according to research firm FactSet.

On an adjusted basis, Verizon earned $1.20 per share, beating analysts’ estimates of $1.17, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Bernard Orr)

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