Verizon Communications (NYSE: VZ) stock gained on Monday after the company reported better-than-expected second-quarter financial results and raised guidance. The company reported quarterly revenue growth was 5.

Verizon stock rose amid Q2 earnings and revenue that topped estimates. The telecom firm lost more postpaid phone subscribers than expected.

Verizon reported its second-quarter results this morning and beat Wall Street's sales and earnings expectations. Despite a jump for its share price today, Verizon stock is still down big year to date.

The wireless carrier faces stiff competition from rivals’ promotions.

Verizon Communications helped lead the way and rose 4%. The telecom giant reported a stronger profit for the latest quarter than analysts expected, along with higher revenue than forecast. Following the better-than-expected performance, Verizon raised its forecasts for profit and other financial measures for the full year.

CEO Hans Vestberg stated on Monday that the company is increasing its full-year free cash flow forecast. “We're also raising our guidance for free cash flow for the year, driven by our strong cash flow from operations and further supported by the positive impact from the tax reform,

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