Telecoms Shares Climb After Verizon Earnings - Telecoms Roundup

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.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

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