Verizon Lands $1 Billion Google Fiber Deal

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Verizon ‌CEO Dan Schulman said Friday the company has secured ‌a ​deal with Google, valued ⁠at more than $1 billion, ​to provide dark fiber ⁠connectivity for the search engine giant's ‌data ​centers.

"We have other ‌deals that ‌we expect to announce by year ⁠end that taken ‌together ⁠are expected ⁠to ⁠be worth multiple billions of ‌dollars in revenue over the ‌next ​several ‌years," Schulman said on Verizon's post-earnings ​call.

Shares of ‌U.S. wireless carrier Verizon Communications (VZ) rose 3.8% to $45.36 premarket.

The company raised its ​annual adjusted earnings per share (EPS) and ⁠free cash ​flow forecasts as it added 184,000 postpaid ⁠phone subscribers in the second quarter.

This topped the consensus estimate ‌of ​103,900, according to FactSet data.

At this time, Verizon ‌now expects annual adjusted EPS of $4.99 ⁠to $5.04, compared with ‌prior ⁠forecast of $4.95 ⁠to $4.99.

However, Verizon's $34.3 billion revenue in the second quarter ‌missed estimate of $35.16 billion.

The adjusted EPS of $1.30 ‌beats ​estimate ‌of $1.27, according to data compiled by LSEG.

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