Verizon profit beats estimates on remote working boost

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Verizon added more monthly bill-paying phone subscribers than expected as people bought new connections to power work-from-home set-ups

beat estimates for third-quarter profit on Wednesday, helped by strong demand for its phone and internet services as offices and schools continued to operate virtually amid the COVID-19 pandemic.

Verizon added 283,000 postpaid phone subscribers in the third quarter, above the average estimate of 268,000, according to research firm FactSet.

 

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