(Reuters) – Verizon Communications Inc on Tuesday reported better-than-expected quarterly wireless subscriber additions, as its promotional plans attracted more customers and drove device upgrades during the holiday season.
After reporting lower wireless sign-ups compared to rivals AT&T and T-Mobile in 2022, Verizon has picked up pace again, thanks to promotional offers and Apple’s flagship iPhone launch.
Verizon, whose plans are the most expensive among U.S. peers, added 217,000 net new monthly bill paying wireless phone subscribers in the fourth quarter, higher than Factset estimates of 200,400 additions.
The company’s net income rose 41.4% to $6.7 billion in the quarter.
Excluding items, Verizon earned $1.19 per share.
(Reporting by Eva Mathews and Samrhitha Arunasalam in Bengaluru; Editing by Vinay Dwivedi)
