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Verizon pleases Wall Street expectations

Verizon Communications Inc and Vodafone Group Plc said the growth took its total subscriber base to 68.7 million, including 66.7 million retail customers. Verizon said on Tuesday it added 1.5 million customers in the second quarter

Second quarter growth was in line with Stifel Nicolaus’ forecast of 1.5 million subscriber additions, but above a Bank of America forecast for 1.34 million.

The company is scheduled to release second-quarter results on Monday. Analysts on average expect earnings excluding items of $1.8 billion, or 65 cents a share, on revenue of $24.2 billion

In April, the company paid nearly $10 billion in total for bandwidth and won the prized C-Band 700 MHz spectrum.

Verizon will use its preferred 4G long-term evolution (LTE) technology over the 700 MHz spectrum. The mobile services should be cleared of analog TV broadcasters by the end of February 2009.

Sprint Nextel Corp is currently ahead of its bigger rivals in deploying proto-4G mobile WiMax networks in the United States.

AT&T, the number US cellular carrier, hasn’t announced any 4G plans yet. However, AT&T operator has bought in its own nationwide 700 MHz footprint through auction and acquisition. The operator spent $6.6 billion on 12 Mhz of B-Block spectrum at the recent auction and has spent nearly $10 billion all-told on filling in 700 MHz coverage across the nation.