Verizon: Q1 earnings snapshot

NEW YORK — Verizon Communications Inc. today reported first-quarter earnings of $4.58 billion.

The company said it had profit of $1.09 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.35 per share.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of $1.35 per share.

The largest U.S. cellphone carrier posted revenue of $33.55 billion in the period, which beat Street forecasts. Thirteen analysts surveyed by Zacks expected $33.38 billion.

Verizon expects full-year earnings in the range of $5.40 to $5.55 per share.