Verizon Communications Inc. (VZ) Profit Falls
Verizon Communications Inc., the nation's second largest telecommunications company, on Monday reported third-quarter earnings fell by a third from a year ago due to tax charges.
Verizon earned $1.27 billion, or 44 cents per share, in the July-September period, down 34 percent from $1.92 billion, or 66 cents per share, a year earlier.
This year's figure includes a charge of 16 cents per share for taxes related to a minority investment in Italian cell-phone carrier Vodafone Omnitel, and 3 cents per share in other charges.
Excluding those charges, earnings would have been 63 cents per share, beating the average estimate of analysts polled by Thomson Financial by a penny a share.
Verizon earned $1.27 billion, or 44 cents per share, in the July-September period, down 34 percent from $1.92 billion, or 66 cents per share, a year earlier.
This year's figure includes a charge of 16 cents per share for taxes related to a minority investment in Italian cell-phone carrier Vodafone Omnitel, and 3 cents per share in other charges.
Excluding those charges, earnings would have been 63 cents per share, beating the average estimate of analysts polled by Thomson Financial by a penny a share.
Labels: Verizon Communications Inc., VZ
posted by Stock Administrator @ 12:28 PM
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