** Verizon Communications' VZ.N shares fall 3.9% to $41.40 in premarket trading

** Telecom giant posts first-quarter revenue of $33.5 billion, edging past analysts' estimates of $33.24 billion, according to LSEG data

** VZ lost 289,000 monthly bill-paying wireless subscribers in first quarter, whereas analysts expected the company to lose 166,400 subscribers, according to FactSet data

** The company saw a higher churn as it raised monthly prices for its customizable myPlan accounts by more than $3 per line

** Up to last close, stock had risen 7.4% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))