NEW YORK (AP) — NEW YORK (AP) — Verizon Communications Inc. (VZ) on Tuesday reported first-quarter earnings of $4.91 billion.
On a per-share basis, the New York-based company said it had profit of $1.17. Earnings, adjusted for amortization costs, came to $1.20 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The largest U.S. cellphone carrier posted revenue of $32.91 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $33.71 billion.
Verizon expects full-year earnings in the range of $4.55 to $4.85 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at https://www.zacks.com/ap/VZ
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