Verizon beats estimates and raises Vodafone pressure

By Sinead Carew – Verizon Communications Inc posted a higher-than-expected quarterly profit on the performance of its wireless business, which reined in costs without slowing growth.

Verizon also ramped up the pressure on Vodafone Group Plc, which owns 45 percent of the Verizon Wireless unit.

“It just feels like they’re tightening the circle around their customers,” Evercore analyst Jonathan Schildkraut said, referring to Verizon’s ability to retain customers and add more devices through its data share plans. more>



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