Verizon Communications Q2 Profit Drops, Inline With Estimates

(RTTNews) - Verizon Communications (VZ) announced earnings for second quarter that decreased from last year in line with the Street estimates.

The company's earnings totaled $4.702 billion, or $1.09 per share. This compares with $4.766 billion, or $1.10 per share, in last year's second quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.15 per share for the period.

Analysts on average had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.6% to $32.796 billion from $32.596 billion last year.

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q2): $4.702 Bln. vs. $4.766 Bln. last year. -EPS (Q2): $1.09 vs. $1.10 last year. -Revenue (Q2): $32.796 Bln vs. $32.596 Bln last year.

-Guidance: Full year EPS guidance: $4.50 to $4.70