Verizon Q1 profit up on tax gains, loses phone customers

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(Telecompaper) Verizon reported first-quarter earnings of USD 1.11 per share, up from 84 cents a year ago, helped by the US tax reform and new accounting standards for revenue recognition. Revenues rose 6.6 percent to USD 31.8 billion and were 3.2 percent higher on an organic basis. Wireless service revenues were still down 2.4 percent year-on-year, but Verizon said the result excluding the accounting impact was flat over the quarter and positive in March. 
Source: Industry News (syndicated from Telecompaper.com)

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