Verizon bounced back from a tough fourth quarter and started the year off strongly.
The telecommunications provider today posted a first-quarter profit of $1.95 billion, or 68 cents a share, compared with a year-earlier profit of $1.67 billion, or 59 cents a share. Revenue rose 4.2 percent to $29.42 billion from a year ago.
Analysts, on average, projected per-share earnings of 66 cents and revenue of $29.55 billion, according to Thomson Reuters.
Growth, as usual, was driven by the Verizon Wireless unit, which generated $19.5 billion in revenue, up 6.8 percent from a … Read more