Telecoms Higher After Verizon Earnings -- Telecoms Roundup

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.

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,

(END) Dow Jones Newswires

July 27, 2017 17:46 ET (21:46 GMT)