Updated from 6:56 a.m. ET
Verizon reported adjusted earnings of 96 cents a share, in line with expectations of analysts polled by FactSet. The company reported revenue of $30.5 billion, beating analysts' expectations of $29.81 billion.
Verizon rose 4% in premarket trading on Thursday.
In a bid to combat rising competition in the wireless industry, Verizon introduced unlimited data plans in February.
In the first full quarter of Verizon's unlimited plan, wireless Ebitda margins dipped to 45.8% from from 47.5%.
The other carriers that have reported this earnings season have improved profitability despite the proliferation of unlimited offerings. AT&T Inc. (T) - Get Report reported record wireless Ebitda margins of 50.4%, up from 49.8% in the quarter a year ago. T-Mobile USA Inc. (TMUS) - Get Report , which has led the charge toward unlimited data, improved Ebitda margins to 40% from 37% in the second quarter.
Verion's churn, or percentage of subscribers who left its wireless plans, was 0.94%, in line with the same quarter a year ago.
Verizon reported a net increase of 614,000 retail postpaid connections in second quarter. Net phone additions of 358,000 included 590,000 smartphones in the quarter, compared with 86,000 net phone additions, including 336,000 smartphones, in the second quarter of 2016.
Analysts polled by FactSet expected Verizon to add 86,100 wireless subscribers in the quarter, after losing more than 300,000 in the first quarter.
Total revenue in the wireless division was $21.3 billion, a decline of 1.9% from a year earlier.
For the full year, Verizon expects consolidated revenue, on an organic basis, to be consistent with 2016, with improvements in wireless service revenue and equipment revenue trends.
Earnings are expected to be consistent with 2016 and consolidated capital spending for 2017 to be in the range of $16.8 billion to $17.5 billion.
Verizon completed its $4.48 billion acquisition of Yahoo! last month.
Verizon's Oath subsidiary, which houses AOL and Yahoo! brands serving about 1 billion unique monthly users globally and representing about $7 billion in annual revenue, is expected to realize more than $1 billion in cumulative operating expense synergies through 2020.
More of What's Trending on TheStreet: