Verizon quarterly profit meets estimates as subscribers rise

Verizon Communications Inc`s quarterly profit met Wall Street analyst estimates as the No. 1 U.S. wireless carrier added subscribers.

Net income attributable to Verizon was $3.62 billion, or 89 cents per share, in the third quarter ended Sept. 30, flat from the year earlier period.

Excluding items, earnings per share was 98 cents. The company said that it added 603,000 wireless subscribers who pay a monthly bill.

Total revenue rose to $31.72 billion from $30.94 billion a year earlier.

According to Thomson Reuters I/B/E/S, analysts had expected adjusted earnings per share of 98 cents and revenue of $31.45 billion.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)