On July 24, Verizon rose 3.4% in pre-market trading, trading at $45.25/share, with turnover of $3.36 million. The stock moved higher as the company released its second-quarter earnings report before market open and provided an optimistic subscriber outlook.

Verizon reported that it expects its full-year retail postpaid phone net additions to land in the upper half of its previously guided 750,000 to 1,000,000 range, signaling stronger-than-anticipated customer growth momentum. Ahead of the release, consensus estimates had projected quarterly revenue of approximately $35.19 billion, representing a 4.31% year-over-year increase, with adjusted earnings per share expected at $1.27, up 6.96% year-over-year.

The results come amid a transformative period for Verizon, which recently formed a 50:50 joint venture with BT Group for multinational enterprise services, secured an exclusive connectivity partnership with BMW Group for US vehicles, and was removed from the Dow Jones Industrial Average effective June 29, replaced by Alphabet.

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