Verizon: second-quarter revenue up, driven by wireless

(CercleFinance.com) - Verizon Communications on Tuesday posted lower second-quarter earnings, but the group's revenue rose driven by wireless growth, sending its shares up more than two percent in premarket trading.


Verizon reported a third-quarter profit of 4.25 billion dollars, or 1 dollar per share, compared with 4.47 billion dollars, or 1.07 dollar per share a year ago.

However, on an adjusted basis (non-GAAP) excluding unusual items, Verizon earned 1.20 dollars per share in the quarter, compared with 96 cents a year earlier.

Revenue rose 5.4 percent to 32.2 billion euros. Wireless revenues rose 5.5 percent to 22.4 billion dollars.

Verizon reported a net increase of 531,000 retail postpaid net additions in the second quarter, with net phone additions of 199,000.

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