Verizon versus AT&T: Which Company had Better Earnings?
Verizon Communications Inc. (NYSE:VZ) had a loss and missed Wall Street’s profit expectation, BUT beat the revenue expectation. Net loss increased to $4.23 billion (or a loss of 1.48 cents per share) in the quarter versus a net loss of $2.02 billion in the year-earlier quarter. Revenue rose 5.68% to $30.05 billion from the year-earlier quarter.
Verizon Communications Inc. reported adjusted net income of 38 cents per share. By that measure, the company missed the mean analyst estimate of $0.5. It beat the average revenue estimate of $29.83 billion.