Verizon Beats on Revenue, Ups Profit Outlook on Tax Reform

Verizon Communications Inc. posted second-quarter revenue that surpassed analysts’ estimates and raised its profit outlook, buoyed by wireless price increases and recent tax legislation.

Operating revenue was $34.5 billion, up 5.2% from a year earlier, The New York-based carrier said in a statement. Wall Street had been expecting $33.7 billion, on average. Wireless service revenue, which excludes device purchases and upgrades, was $20.9 billion, in line with analysts’ projections.