Verizon Profit, Revenue Increase in 1Q
By Allison Prang
Verizon Communications Inc. reported higher earnings and revenue
in its first quarter but reported phone net losses.
Net income was $5.38 billion and rose around 25% year over year,
the company said. Verizon said earnings came in at $1.27 a share,
up from $1 a share. Adjusted earnings, the company said Wednesday,
were $1.31 a share. According to FactSet, analysts were expecting
adjusted earnings of $1.29 a share.
Operating revenue at Verizon increased to $32.9 billion, the
company said. Analysts were expecting $32.46 billion. The company
said that media revenues climbed around 10% from a year ago, to
The company reported a loss of 178,000 phone net losses for its
whole wireless business and said it had 102,000 Fios net
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(END) Dow Jones Newswires
April 21, 2021 08:03 ET (12:03 GMT)
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