Telecommunications giant Verizon Communications, Inc. (VZ: Quote) posted higher first-quarter net income attributable to the company of $1.95 billion, or $0.68 per share, compared with last year’s $1.69 billion, or $0.59 per share, driven by margins at Verizon Wireless and continued strong cash flow and year-on-year revenue increases for wireless, FiOS and strategic enterprise services. On average, 27 analysts polled by Thomson Reuters expected earnings per share of $0.66 for the quarter. Analysts’ estimates typically exclude one-time items.
Total operating revenues reached $29.42 billion, a 4.2 percent increase from $28.24 billion in the first quarter 2012, while 24 analysts estimated revenues of $29.56 billion for the quarter. Three-month operating income grew 19.8 percent year-over-year to $6.2 billion, from $5.2 billion.
Click here to receive FREE breaking news email alerts for Verizon Communications and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News