Verizon Communications Inc on Tuesday raised its 2019 profit forecast and beat W...
- Verizon Communications Inc on Tuesday raised its 2019 profit forecast and beat Wall Street estimates for quarterly profit as it focuses on cost cuts, but the U.S. wireless carrier lost more phone subscribers than analysts had expected.
Verizon Chief Financial Officer Matt Ellis said profit margins in the carrier’s core wireless business was pressured by accounting changes during the first quarter. Without the items, “the business performed really well,” Ellis said in an interview. Net income attributable to the company rose to $5.03 billion, or $1.22 per share, in the first quarter ended March 31 from $4.55 billion, or $1.11 per share, a year earlier.
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