Verizon Communications swung to a second-quarter profit as consumers flocked to its speedier 4G service, the carrier said today.
Verizon reported a second-quarter profit of $1.61 billion, or 57 cents a share. A year earlier, the company posted a loss of $1.19 billion, or 42 cents a share due to charges made related to its job cuts. Revenue rose 2.8 percent percent to $27.54 billion.
Wall Street analysts had expected earnings of 55 cents a share on revenue of $27.42 billion, according to a survey taken by Thomson Reuters.
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