Verizon Communications (NYSE:VZ) today announced a robust start to the year, reporting first-quarter profits and revenue that surpassed Wall Street forecasts.
The telecommunications giant posted a net income of $4.88 billion for the quarter.
On a per-share basis, the company's profit was $1.15.
Excluding the impact of amortization costs, adjusted earnings for the period came in at $1.19 per share.
These results exceeded the expectations of financial analysts.
According to a survey of eight analysts by Zacks Investment Research, the average estimate for earnings was $1.15 per share.
Verizon, the largest wireless carrier in the U.S., also reported strong revenue figures.
The company generated $33.49 billion in revenue during the first quarter, topping the Street's projections.
A survey of six analysts by Zacks expected revenue of $33.33 billion.