Verizon subscriber growth sags in Q3

From CNET News.com: Today, Verizon reported that its profits increased to $3.54 billion, or 49 cents a share, compared with $2.7 billion, or 23 cents a share, during the same quarter a year ago. Adjusted profits for Verizon were 56 cents a share. Analysts had expected 55 cents a share.

Revenue increased to $27.91 billion from $26.5 billion during the same quarter a year ago. And analysts had expected the company to generate around $27.88 billion.

While Verizon's financials hit the mark, the company's subscriber growth on wireless--the growth engine for the company--fell short of expectations. Verizon Wireless netted only 882,000 new contract subscribers during the quarter. Analysts were expecting the company to add 950,000 to just over 1 million new contract customers.

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