Wireless device additions lift Verizon 2Q profit

(AP)—Verizon added more wireless devices than expected to its network in the latest quarter, continuing a strong run for the country's largest cellphone carrier.

Verizon Wireless added 941,000 devices to its contract-based plans in the April to June period and boosted service revenues by 8.3 percent from a year ago. Its closest rival, AT&T, is seeing revenue increases of around 4 percent.

Net income at Verizon Communications Inc. was $2.25 billion, or 78 cents per share, up 23 percent from a year ago, the company said Thursday. Excluding a pension-related gain, earnings were 73 cents per share. That beat the average estimate of analysts polled by FactSet by a penny.

Revenue was $29.79 billion, up more than 4 percent from a year ago and in line with analyst expectations.

© 2013 The Associated Press. All rights reserved.

Citation: Wireless device additions lift Verizon 2Q profit (2013, July 18) retrieved 18 April 2024 from https://phys.org/news/2013-07-wireless-device-additions-verizon-2q.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Verizon rakes in wireless fees in 1Q

0 shares

Feedback to editors