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Verizon Q2 Results Beat Consensus(dpa-AFX International Compact Via Acquire Media NewsEdge) NEW YORK CITY (dpa-AFX) - Telecom giant Verizon Communications Inc. (VZ) reported a double-digit percentage growth in second-quarter 2014 operating income and earnings per share. Driven by strong wireless and FiOS revenues, and continued margin expansion, the firm delivered consolidated top-line growth during the latest quarter. For the quarter, net income attributable to Verizon was $4.21 billion or $1.01 per share, up significantly from $2.25 billion or $0.78 per share, last year. However, quarterly net income dropped by 16.8% year-over-year to $4.32 billion, from $5.2 billion. On an adjusted basis, Verizon posted $0.91 per share of profit in the second quarter of 2014, excluding non-operational gains. On average, 27 analysts polled by Thomson Reuters expected earnings per share of $0.90 for the quarter. Analysts' estimates typically exclude one-time items. Operating revenues for the quarter were $31.48 billion, up 5.7%, compared with the year-ago period's $29.79 billion; whereas 23 analysts estimated revenues of $31.12 billion. Copyright RTT News/dpa-AFX |