Verizon Reveals Bottom-Line Beat in First Quarter
Earnings HQ: FBN’s Ashley Webster breaks down Verizon Communications’ first-quarter earnings report.
Verizon Communications Inc's quarterly revenue rose 3.8 percent due to higher net addition of postpaid subscribers as users added more devices to data plans.
Net income attributable to Verizon was $4.22 billion, or $1.02 per share, in the first quarter, compared with $3.95 billion, or $1.15 per share, a year earlier.
Revenue rose to $31.98 billion from $30.82 billion. The company added 565,000 net retail postpaid customers in the quarter ended March 31.
(Reporting by Malathi Nayak in New York and Supantha Mukherjee in Bengaluru)
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