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Story summary
- Verizon added 406,000 net monthly phone lines in Q3, beating analysts' 202,000 estimate.
- Operating revenue rose 1.5% to $34.3 billion, missing the $34.8 billion forecast.
- Device upgrades fell more than 20% year-over-year, leading Verizon to reduce handset subsidies.
- Verizon raised its full-year outlook, now targeting up to 1.2 million new monthly lines.
- Verizon introduced a loyalty rewards program.