NEW YORK (AP) — NEW YORK (AP) — Verizon Communications Inc. (VZ) on Tuesday reported first-quarter profit of $4.88 billion.
On a per-share basis, the New York-based company said it had profit of $1.15. Earnings, adjusted for amortization costs, came to $1.19 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The largest U.S. cellphone carrier posted revenue of $33.49 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $33.33 billion.
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