Verizon Sinks Despite Q1 Beats
On Wednesday morning, Verizon Communications (NYSE: VZ) released its latest set of quarterly results, which were met with a shrug despite some encouraging growth numbers.
For its first quarter of fiscal 2021, the telecom giant managed to increase its revenue by 4% year over year to $32.9 billion. Generally accepted accounting principles (GAAP) net income also headed north, advancing by 25% to $5.38 billion. On a non-GAAP (adjusted) basis, the bottom line profit was $1.31 per share, up from the year-ago quarter's $1.26.
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Source Fool.com
