Verizon Communications Inc.
(NYSE:VZ) reported second-quarter results Friday, with adjusted earnings beating Wall Street estimates while revenue narrowly missed expectations as customers held onto their phones longer, reducing equipment sales.
Adjusted earnings came in at $1.30 per share, above the analyst consensus estimate of $1.27, according to Benzinga Pro.
Revenue totaled $34.25 billion, missing the $35.11 billion estimate.
GAAP diluted earnings per share fell 22% year over year to 92 cents, while net income declined 22.9% to $3.9 billion.
