Verizon Communications Inc (NYSE:VZ) topped estimates in its second quarter, seeing a jump in subscriber growth.
The telecom giant reported earnings of US$1 per share on revenue of US$32.2bn, compared with US$1.07 on revenue of US$30.55bn in the previous year’s second quarter.
The New York-based company reported adjusted earnings of US$1.20, surpassing Wall Street estimates of US$1.14 EPS on revenue of US$31.78bn.
Shares were up slightly to US$50.90 in Tuesday Morning trading.
READ: AT&T 1Q earnings miss, on lighter revenue, subscriber losses
While its landline business declined, its wireless division was booming as unlimited data plans lured in more customers.
The wireless carrier added 398,000 monthly subscribers, well above analyst estimates of 352,000 subscribers.
For the year ahead, the company expects full-year revenue growth in the low- to mid-single-digit percentage rates, boosted by higher equipment revenue.
The carrier also announced that it would bring 5G technology to Houston by the second half of 2018. The service has been introduced to Sacramento and Los Angeles as part of a plan to bring the technology to four markets.