Verizon beats estimates as it adds more postpaid users

Verizon Communications beat Wall Street estimates for third-quarter profit and revenue on Friday, as it signed up more phone customers who pay a monthly bill.

The company added 615,000 postpaid customers, above analysts' estimates of 527,000 subscribers, according to research firm FactSet.

The results come as the largest U.S. wireless carrier by subscribers prepares to roll out 5G mobile technology in more than 17 cities by the end of the year.

Net income rose to $5.34 billion, or $1.25 per share, in the third quarter ended Sept. 30 from $5.06 billion, or $1.19 per share, a year earlier.

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