Verizon's quarterly profit rises 32 percent

(Reuters) - Verizon Communications Inc, the No. 1 U.S. wireless carrier, reported a 32 percent rise in quarterly profit on Tuesday, helped by gains from U.S. tax reforms.

Net income attributable to Verizon rose to $4.55 billion, or $1.11 per share, in the first quarter ended March 31 from $3.45 billion, or 85 cents per share, a year earlier.

Verizon said it lost 24,000 phone subscribers who pay a monthly bill on a net basis.

(Reporting by Shariq Khan in Bengaluru; Editing by Anil D'Silva)