Verizon profit rises 93% in second-quarter

VERIZON'S second-quarter earnings have nearly doubled after securing full ownership of Verizon Wireless.

PROFIT jumped to $US4.32 billion ($A4.7 billion) from $US2.25 billion, or 78 cents per share.

Net income per share grew, but at a lower rate, to $US1.01 per share from 78 cents per share, after Verizon issued shares in February to pay Vodafone shareholders for Verizon Wireless.Adjusted for non-recurring gains, earnings were 91 cents per share, just edging out the 90 cents per share that analysts were expecting, according to a survey by Zacks Investment Research.Revenue rose 5.7 per cent to $US31.48 billion from $US29.79 billion last year.Analysts expected $US31.09 billion, according to Zacks.Shares of Verizon Communications Inc. dipped more than one per cent on Tuesday before the opening bell.

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