You are here: Home » Reuters » News
Business Standard

Verizon adds more phone subscribers than expected in fourth quarter


(Reuters) - Inc on Tuesday beat Wall Street estimates for net new phone subscribers who pay a monthly bill, adding 650,000 customers in the fourth quarter.

The largest U.S. was expected to add 355,600 new subscribers, according to research firm

The company has been investing heavily in its next generation network, which will become the backbone of its largest business.

Verizon said in December it was working with to launch enabled in the first half of 2019.

The company added a total of 1.2 million in the quarter, Verizon said at the 2019 Global TMT West investor conference. This was above the average estimate of 800,600 net additions.

Shares of the company rose about 3.5 percent to $58.69, making it one of the top gainers on the Dow Jones Industrial Average. Verizon is expected to report fourth-quarter results on Jan. 29.

(Reporting by in Bengaluru; Editing by Arun Koyyur)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 23:42 IST