Verizon: Q2 Earnings Snapshot

Associated Press Finance
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NEW YORK (AP) — NEW YORK (AP) — Verizon Communications Inc. (VZ) on Monday reported second-quarter net income of $4.59 billion.

The New York-based company said it had net income of $1.09 per share. Earnings, adjusted for amortization costs and severance costs, came to $1.15 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The largest U.S. cellphone carrier posted revenue of $32.8 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $33.04 billion.

Verizon expects full-year earnings in the range of $4.50 to $4.70 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at https://www.zacks.com/ap/VZ