Verizon rakes in wireless fees in 1Q
Verizon says its profit rose 16 percent in the latest quarter as revenue from wireless service kept rising at a rate that's the envy of the industry.
Analysts polled by FactSet had on average expected earnings of 66 cents per share for the latest quarter.
First-quarter revenue was $29.4 billion, just short of the average analyst estimate at $29.5 billion.
Wireless service revenues rose 8.6 percent to $16.7 billion, accounting for more than half of overall revenue. At closest rival AT&T Inc., wireless service revenue has been rising just over 4 percent per year.
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