Oct 26 — Verizon raised its annual forecast for wireless subscriber additions on Monday, betting on strong demand for its simplified plans, and signed an AI infrastructure deal worth more than $2 billion with Amazon Web Services.
For the third quarter, the telecom carrier reported nearly double the analysts’ estimate for monthly-bill paying wireless subscriber gains at 406,000, against Visible Alpha expectations of 209,439.
Shares of the New York-based company rose 2.4% in premarket trading.
• Verizon now expects to add between 1.1 million and 1.2 million postpaid phone subscribers this year compared with earlier projections of 750,000 to 1 million
• It also raised its full-year adjusted earnings per share forecast to $5.04 to $5.06, from $4.99 to $5.04 earlier
• However, third-quarter revenue of $34.3 billion fell short of analyst estimates of $34.74 billion, according to LSEG data
• Revenue was pressured by lower device upgrade volumes as…