Verizon raises profit outlook on $1-bn Google dark fiber deal

Verizon raised its annual adjusted profit forecast and said it had secured a more than $1 billion deal with Google to provide dark fiber connectivity for its data centers, sending the telecom operator’s shares up 3%.

“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 a post-earnings call.

Verizon is currently in the midst of a strategic transition under new CEO Schulman.