The No. 1 U.S. wireless service provider's shares rose 1.1 percent
to $44.90 in premarket trading on Thursday.
Wireless retail postpaid subscriptions, however, fell. The company
added 1.5 million postpaid subscribers on a net basis in the fourth
quarter ended Dec. 31, compared with 2 million a year earlier.
Sales at the company's FiOS high-speed Internet, TV and phone
service rose 6.8 percent to $3.53 billion.
Another bright spot was phone sales: wireless equipment revenue rose
about 28 percent to $5.40 billion as more customers chose to buy new
devices with installment pricing.
Customer defections, also known as churn, at Verizon's wireless
postpaid business dipped to 0.96 percent from 1.14 percent.
Verizon and AT&T Inc have been facing stiff competition from
companies such as T-Mobile US Inc and Sprint Corp, which have been
offering massive discounts on call and data plans.
Verizon last month announced a plan offering customers who switch
from AT&T, T-Mobile and Sprint up to $650 to cover early termination
The company's operating revenue rose 3.2 percent to $34.25 billion,
beating the average analyst estimate of $34.1 billion, according to
Thomson Reuters I/B/E/S.
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Net income attributable to Verizon was $5.39 billion, or $1.32 per
share, compared with a loss of $2.23 billion, or $0.54 per share a
Excluding items, it earned 89 cents per share, above the average
analyst expectation of 88 cents.
(Reporting by Kshitiz Goliya in Bengaluru; Editing by Saumyadeb
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