Verizon quarterly profit beats estimates

(Reuters) - Verizon Communications Inc beat Wall Street estimates for quarterly profit on Tuesday, as the largest U.S. mobile carrier added more net new subscribers who pay a monthly bill.

The largest U.S. wireless carrier by subscribers said it added a net 653,000 phone subscribers during the fourth quarter, beating the average estimate of 355,600 net additions, according to research firm FactSet.

Excluding items, Verizon earned $1.12 per share, above the average estimate of $1.09 per share, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Saumyadeb Chakrabarty)