Verizon Communications VZ reported a 16% rise in its third-quarter net income.
Verizon's quarterly earnings surged to $1.59 billion, or $0.56 per share, versus $1.38 billion, or $0.49 per share, in the year-ago period. Its adjusted profit came in at $0.64 per share.
Its revenue climbed to $29.01 billion from $27.91 billion. However, analysts were expecting a profit of $0.64 per share on revenue of $29.01 billion.
Verizon shares closed at $44.72 yesterday.
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