October 23, 2018 / 11:32 AM / in a month

Verizon beats phone subscriber estimates

Oct 23 (Reuters) - Verizon Communications Inc on Tuesday beat Wall Street estimates for net new phone subscribers who pay a monthly bill, helped by promotions for Apple Inc’s new iPhone.

The largest U.S. wireless carrier by subscribers said it added a net 295,000 phone subscribers during the third quarter, beating estimates of 161,000 new subscribers, according to research firm FactSet.

Total operating revenue rose 2.8 percent to $32.61 billion during the quarter, beating analysts’ estimates of $32.51 billion, according to Refinitiv data. (Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York Editing by Supriya Kurane)

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