For the period ended June 30, Verizon earnings came in at $1.15 per share on an adjusted basis, down 5% from a year earlier. Revenue for Verizon stock rose 0.6% to $32.8 billion, missing estimates of $33.04 billion.
Wireless service revenue climbed 3.5% to $19.8 billion. Earnings before interest, taxes, depreciation and amortization came in at $12.3 billion, edging by estimates of $12.27 billion.
Verizon’s consumer unit didn’t turn positive in Q2 as some analysts had hoped. It lost 8,000 postpaid phone subscribers while the company added 156,000 business subscribers.
The company said it added 148,000 wireless postpaid phone subscribers, topping estimates of 94,000. Billed monthly, postpaid phone subscribers are the highest spending wireless subscribers.
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