Verizon seed more postpaid subscribers in Q3

Verizon Communications Inc said on Wednesday it added more postpaid phone subscribers than expected in the third quarter, supported by a steady demand for 5G services.

The carrier has been doubling down on its investments in 5G technology to keep up with a surge in demand for mobile and data plans during the pandemic.

The rapid rollout of the service in the United States with flexible services for users at home as well as for businesses has helped Verizon add more customers.

The company added 429,000 postpaid phone subscribers in the quarter, above FactSet estimates of 302,300.

Verizon’s total operating revenue rose 4.3% to $32.9 billion in the third quarter, compared with analysts’ average estimate of $33.2 billion, according to Refinitiv data.