NEW YORK, July 18 (Reuters/EP) -
Verizon Communications said On Thursday that its quarterly profit exceeded analysts' expectations by a penny thanks to strong growth at Verizon Wireless, the joint venture it has with Vodafone Group Plc.
Verizon Wireless said it added 941,000 subscribers in the quarter, up from 836,500 expected, according to the average among six analysts polled by Reuters, whose estimates ranged from 700,000 to 909,000.
Verizon's earnings rose to $2.25 billion (€1.713 billion), or $0.78 (€0.59) per share, from $1.83 billion (€1.393 billion), or $0.64 (€0.50) per share, in the same period in 2012. Excluding a pension-linked profit, Verizon earned $0.73 (€0.55) per share, against expectations of $0.72 (0.54) per share, according to Thomson Reuters I/B/E/S.
The company's operating income rose 4.3 percent to $29.8 billion (€22.696 billion), from $28.55 billion (€21.744 billion), but slightly below the $29.83 billion (€22.718 billion) expected by the market.
