NEW YORK — Verizon Communications Inc. today reported second-quarter earnings of $5.2 billion.
On a per-share basis, the company said it had profit of $1.24. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.31 per share.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The largest U.S. cellphone carrier posted revenue of $33.79 billion in the period, which beat Street forecasts. Twelve analysts surveyed by Zacks expected $33.74 billion.
Verizon expects full-year earnings in the range of $5.10 to $5.25 per share.