Investing.com - Verizon, the largest mobile network operator in the U.S., reported better than expected first quarter earnings ahead of Tuesday’s opening bell, despite missing on revenue figures.
Verizon said adjusted earnings per share came in at $1.04, above expectations for earnings of $1.01 per share and compared with $0.91 per share in the same period a year earlier.
The mobile network operator’s second quarter revenue totaled $32.22 billion, missing forecasts for revenue of $32.45 billion but up from $31.5 billion a year earlier.
"Verizon has delivered another quarter of strong financial and operational results, based on consistent network reliability and superior value that continues to attract new customers," said Chairman and CEO Lowell McAdam.
"In the second quarter, we again balanced quality Verizon Wireless connections growth with low churn and profitability, and we announced and completed our acquisition of AOL," McAdam added.
"We're now poised to offer customers exciting new over-the-top (OTT) mobile video services, and we look forward to a very positive second half of 2015," the statement continued.
The company is expecting full-year revenue growth of at least 3%.
Immediately after the earnings announcement, Verizon Communications (NYSE:VZ) shares lost 1.29% in trading prior to the opening bell to hit $47.50 from a closing price of $48.12 on Monday.
Meanwhile, the outlook for U.S. equity markets was mixed. The Dow futures pointed to a decline of 0.15% at the open, the S&P 500 futures indicated a drop of 0.1%, while the Nasdaq 100 futures signaled an increase of 0.15%.