Verizon: Q1 Earnings Snapshot
By AP News
Published - Apr 25, 2023, 07:03 AM ET
Last Updated - Jun 22, 2023, 04:16 AM EDT
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.
