Verizon Q2 Sales Beat, Gets 1.4 Million More Contract Subscribers

Verizon posted second quarter results that topped forecasts in the second quarter on the back of contract subscriber growth. The number of wireless subscribers continued to go up. Sales for the quarter topped estimates at more than $31 billion, that's nearly 6% better than one year ago. Earnings came in at $0.91 cents a share, also slightly better than expectations. According to CEO Lowell McAdam, Verizon added 1.4 million contract customers in the quarter, that's a large improvement over the 941,000 contract customers from a year earlier. The other bright spot was landline phone sales. Revenue from landline phones represents a third of Verizon's total sales and it has been declining over the past seven year. But, it rose 0.3% this year to just under $10 billion. TheStreet's Julia Sun has details from New York.