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.