Excluding items, Verizon earned 66 cents a share, just above analysts' estimates of 65 cents. Verizon's earnings were up significantly from 38 cents a share in the same period last year, which was impacted by Superstorm Sandy.
The telco brought in revenue of $31.1 billion, an increase of 3.4% from the prior year. Analysts surveyed by Thomson Reuters were looking for revenue of $31.02 billion.
The beat helped push Verizon shares up 0.72% to $48.70 before market open.In its wireless business, Verizon made 1.7 million retail net additions to its customer base during the quarter, including 1.6 million postpaid net additions. Verizon Wireless revenue was $21.1 billion, up 5.7% from the same period last year. The company's wireless service revenue grew 8% from the prior year's quarter. Verizon's smartphone penetration is also increasing. At the end of 2013, smartphones made up 70% of the Verizon Wireless retail postpaid customer phone base, up from 67% at the end of 2012. -- Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.
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