Verizon Communications Q2 Profit Decreases, misses estimates

(RTTNews) - Verizon Communications (VZ) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $5.32 billion, or $1.24 per share. This compares with $5.95 billion, or $1.40 per share, in last year's second quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.31 per share for the period.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.1% to $33.79 billion from $33.76 billion last year.

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q2): $5.32 Bln. vs. $5.95 Bln. last year. -EPS (Q2): $1.24 vs. $1.40 last year. -Analyst Estimates: $1.32 -Revenue (Q2): $33.79 Bln vs. $33.76 Bln last year.

-Guidance: Full year EPS guidance: $5.10 to $5.25