Verizon's Lower Costs and Surprising Wireless User Growth Boost Profits

Verizon reported better-than-expected quarterly profits due to lower costs and a surprising increase in wireless subscribers, driven by efforts to expand its enterprise customer base and 5G network. The company also announced that it is conducting tests on sites identified in a recent Wall Street Journal report on abandoned lead cables. Verizon's second-quarter results showed signs of recovery after a challenging 2022, with the addition of 8,000 net monthly bill-paying wireless phone subscribers. However, total revenue fell 3.5% to $32.6 billion, missing analysts' estimates.