Verizon gains on upbeat Q2 results, annual profit outlook raise

U.S. telecom company Verizon Communications' VZ.N shares rise 3.3% to $42.21

Verizon reports Q2 revenue of $34.5 billion, beating analysts' average estimate of $33.74 billion, according to data compiled by LSEG

VZ's quarterly adj. EPS of $1.22 also beat estimates

Co raises the lower end of its annual profit forecast

Posts a surprise drop of 9,000 monthly bill-paying wireless subscribers in the April-June period, reeling from user churn after price hikes in January

But analysts polled by FactSet were expecting an increase of 13,000 subscribers

Rival AT&T T.N up 2.3% at $27.54 and T-Mobile US TMUS.O rise 2.1% to $232.09

As of last close, VZ up ~2% this year