Verizon Tops Subscriber Estimates Amid Industry Price Battle

January 21, 2016 12:22 PM

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Verizon Communications Inc. added 1.5 million new subscribers and exceeded analysts’ profit estimates even as rivals pushed price cuts and promotions to lure customers away.

Fourth-quarter earnings excluding some items were 89 cents a share, the largest U.S. wireless carrier said in a statement Thursday. Analysts predicted 88 cents, the average of estimates compiled by Bloomberg. Sales rose $34.3 billion, compared with a projection of $34.1 billion. Five analysts survey...

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