Verizon Communications Q1 Profit Falls

Verizon Communications (VZ) announced earnings for first quarter that decreased from last year

The company's bottom line came in at $4.71 billion, or $1.09 per share. This compares with $5.38 billion, or $1.27 per share, in last year's first quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.35 per share for the period.

The company's revenue for the quarter rose 2.1% to $33.55 billion from $32.87 billion last year.

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q1): $4.71 Bln. vs. $5.38 Bln. last year.
-EPS (Q1): $1.09 vs. $1.27 last year.
-Revenue (Q1): $33.55 Bln vs. $32.87 Bln last year.

Full year EPS guidance: Adj; $5.40 to $5.55

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