Verizon Communications Q2 Profit Decreases, misses estimates

Verizon Communications (VZ) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $5.32 billion, or $1.24 per share. This compares with $5.95 billion, or $1.40 per share, in last year's second quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.31 per share for the period.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.1% to $33.79 billion from $33.76 billion last year.

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q2): $5.32 Bln. vs. $5.95 Bln. last year.
-EPS (Q2): $1.24 vs. $1.40 last year.
-Analyst Estimates: $1.32
-Revenue (Q2): $33.79 Bln vs. $33.76 Bln last year.

Full year EPS guidance: $5.10 to $5.25

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