Verizon crushed earnings forecasts and added tons of subscribers

Verizon Communications Inc, the biggest U.S. wireless service provider, reported a 2.4% rise in quarterly revenue as it added 1.1 million postpaid wireless subscribers ahead of the launch its online video service.

Net income attributable to Verizon was $4.23 billion, or $1.04 per share, in the second quarter ended June 30, compared with $4.21 billion, or $1.02 per share, a year earlier.

Revenue rose to $32.22 billion from $31.48 billion.

CEO Lowell McAdam said in the earnings release: "In the second quarter, we again balanced quality Verizon Wireless connections growth with low churn and profitability, and we announced and completed our acquisition of AOL. We're now poised to offer customers exciting new over-the-top (OTT) mobile video services, and we look forward to a very positive second half of 2015."

Shares fell more than 2% in premarket trading.

(Reuters editing by Saumyadeb Chakrabarty)