Telecoms Shares Climb After Verizon Earnings - Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies rose after strong earnings from one major carrier. Shares of Verizon Communications rose after the carrier benefitted from an interruption in the subscriber-poaching struggle in what likely reflected modest industrywide iPhone promotions. Verizon added 603,000 monthly postpaid connections in the quarter, nearly double what Wall Street expected, as a return to unlimited data plans appeared to reverse a recent wave of customer desertions. There were also signs of the struggles that other pay-television providers such as AT&T and Comcast have disclosed. Verizon said it lost 18,000 Fios TV subscribers during the third quarter. Telefonica Deutschland should see a boost in third-quarter revenue from its O2 Free business, which offers subscribers increased mobile data packages for a higher monthly fee, said analysts at brokerage Morgan Stanley, in a research note.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 19, 2017 16:42 ET (20:42 GMT)