Verizon first-quarter results beat estimates

[April 24, 2018]  (Reuters) - Verizon Communications Inc reported better-than-expected first-quarter results on Tuesday as the No. 1 U.S. wireless carrier held on to its customers with unlimited data plans.

The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermid/File Photo

Shares of the company rose 2.5 percent to $49.87 in premarket trading.

Net income attributable to Verizon rose to $4.55 billion, or $1.11 per share, in the first quarter ended March 31 from $3.45 billion, or 85 cents per share, a year earlier.

On an adjusted basis, the company earned $1.17 per share. Total operating revenue rose to $31.77 billion from $29.81 billion a year earlier.

Analysts had expected adjusted earnings of $1.10 per share and revenue of $31.26 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Shariq Khan in Bengaluru; Editing by Anil D'Silva)

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