Verizon's earnings top expectations


Communications giant and Dow component Verizon (VZ) just announced its quarterly earnings, will it be enough to turn around a bearish morning for the Dow? Let's take a look. The country's top-rated mobile-phone company reported a first-quarter profit jump of slightly more than five percent. For the quarter, VZ pulled in 63 cents per share when the results were adjusted for one-time items. Not only were the results two cents better than a year ago, but VZ also topped the consensus estimate by four cents per share. Quarterly revenue increased to $26.6 billion, a jump of 11.6 percent. The revenue results were slightly better than the $26.3 billion expected by the Street.