Verizon beats profit, revenue estimates, misses on subscribers
Updated : July 24, 2018 09:57 PM IST
Verizon chief technology officer Hans Vestberg will take over as CEO on Aug. 1 as the largest US wireless carrier by subscribers races to launch its next-generation 5G network amid increasing competition in the industry.
The company added a net 199,000 wireless customers who pay a regular monthly bills during the quarter, missing an average estimate of 210,000 net adds from analysts at Cowen and UBS.
Net income attributable to the company fell to $4.12 billion, or $1 per share, in the second quarter, from $4.36 billion, or $1.07 a share, a year earlier.
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