Shares of US telecom operator Verizon (NYSE:VZ) were trading 2% lower in New York even as the company posted a slightly higher and better than expected profit in the second quarter, thanks to a higher number of mobile subscribers.
From April to June, Verizon’s earnings rose 0.7% to US$4.35 billion, according to Verizon in a statement. Adjusted earnings amounted to US$1.04/share better than the analysts’ forecast of US$1.01.
Revenue rose 2.4% to 32.22 billion dollars, but remains below expectations (32.45 billion dollars).
Verizon said that revenues should rise in the current quarter and expects them to reflect a 3% increase for full year, even excluding AOL's revenues.
Verizon, acquired AOL, the internet search engine, on June 23 and therefore did not include the results of this new subsidiary in its quarterly balance sheet.
During the period, Verizon gained 1.1 million new mobile subscribers, over twice as many as in the first quarter. As of the end of June, the company counted a total of 109.5 million subscribers.
Income from the mobile division rose 5.3% year on year, reaching US$22.6 billion.
Fixed telephony services, for their part recorded an increase in turnover of 4.5% to $ 4 billion, largely thanks to new subscribers to fiber optic (FiOS).