Shares of telecommunications companies rose after another large carrier posted surprisingly strong earnings.
Shares of Verizon Communications rose by more than 7% after it reported a surprisingly large number of subscriber additions, helped by the removal of data overage charges on some plans. Verizon added 614,000 net postpaid subscribers in the second quarter, a major improvement over the 307,000 it lost during the first three months in the year. Already, 59% of Verizon's customers have moved to an unlimited plan or one that doesn't charge overage fees.
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Comcast ticked up after the cable and entertainment company said strong box-office performance of "The Fate of the Furious" boosted its quarterly profit.
New York Times Co. reported a jump in digital advertising revenue in the second quarter, boosting its top line 9.2% even as digital subscriber additions leveled off in the wake of a postelection surge.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
July 27, 2017 17:46 ET (21:46 GMT)