Verizon Communications Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Verizon Communications (VZ) revealed a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $3.4 billion, or $0.78 per share. This compares with $4.9 billion, or $1.13 per share, in last year's third quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.19 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue held steady at $33.3 billion

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q3): $3.4 Bln. vs. $4.9 Bln. last year. -EPS (Q3): $0.78 vs. $1.13 last year. -Revenue (Q3): $33.3 Bln vs. $33.3 Bln last year.

-Guidance: Full year EPS guidance: $4.50 to $4.70