Verizon Revenue Misses Estimates on Lower Equipment Upgrades
- Fixed wireless customers up 69% from year ago to 3.8 million
- Company added 148,000 wireless postpaid phone subscribers
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Verizon Communications Inc. reported second-quarter operating revenue that missed analysts’ estimates as fewer people upgraded wireless equipment.
Total operating revenue was $32.8 billion, up less than 1% from a year ago, while analysts were looking for $33.1 billion on average. The shares fell as much as 7% Monday morning in New York, the most in just over a year.