Verizon surpass Wall Street expectations with strong Q1 results

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.