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Earnings Results: Verizon profit tops expectations, broadband continues to see growth

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Shares of Verizon Communications Inc. gained 2.4% Wednesday after the wireless giant topped earnings estimates for its latest quarter and continued to see low customer churn.

The telecommunications company posted third-quarter net income of $6.5 billion, or $1.55 a share, up from $4.5 billion, or $1.05 a share, in the year-earlier quarter. On an adjusted basis, Verizon VZ earned $1.41 a share, up from $1.25 a share in the year-prior period and ahead of the FactSet consensus, which called for $1.37 a share.

Verizon’s…

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