The company saw a big drop in business services sales with revenue falling to $3.7 billion or 7% from year-ago levels. And the company's wireline business continues to decline at an alarming rate, falling 9.9% to 34.3 million total lines from 38 million a year ago.
Verizon's total debt grew to $64.9 billion from $61 billion at the beginning of the year.
Verizon shares were down 70 cents, or 2.2%, $30.80 in Monday trading.
-- Reported by Scott Moritz in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV