However, the No. 1 U.S. wireless carrier stood by its full-year
profit forecast. The company said in January that 2016 adjusted
earnings would be at a level comparable to 2015.
Verizon's shares fell 1.6 percent in premarket trading on
Thursday.
The company reported strong subscriber additions for the first
quarter ended March 31, adding 640,000 wireless retail postpaid
subscribers.
That was well above analysts' average estimate of 480,000,
according to market research firm FactSet StreetAccount.
Customer defections, known as churn, in Verizon's wireless
postpaid business dipped to 0.96 percent from 1.03 percent a
year earlier.
Total operating revenue rose 0.6 percent to $32.17 billion,
falling short of analysts' average estimate of $32.46 billion,
according to Thomson Reuters I/B/E/S.
Net income attributable to the company rose to $4.31 billion, or
$1.06 per share, in the first quarter, from $4.22 billion, or
$1.02 per share, a year earlier.
(Reporting by Sai Sachin R; Additional reporting by Kshitiz
Goliya in Bengaluru; Editing by Shounak Dasgupta and Don
Sebastian)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|