Verizon Communications Q1 adjusted earnings Beat Estimates

(RTTNews) - Verizon Communications (VZ) announced a profit for first quarter that fell from last year.

The company's profit came in at $4.16 billion, or $1.00 per share. This compares with $5.03 billion, or $1.22 per share, in last year's first quarter.

Analysts had expected the company to earn $1.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.6% to $31.61 billion from $32.13 billion last year.

Verizon Communications earnings at a glance:

-EPS (Q1): $1.26 vs. $1.20 last year. -Analysts Estimate: $1.23 -Revenue (Q1): $31.61 Bln vs. $32.13 Bln last year.