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Updated from 10:05 a.m. EDT
Verizon (VZ Quote) matched Wall Street's estimates with its third-quarter profit Monday, as gains in its wireless segment offset weakness in its wireline business.
The New York phone giant recorded net income of $1.67 billion, or 59 cents a share, compared with net income of $1.27 billion, or 44 cents a share, in the year-ago quarter. Adjusted for one-time items, Verizon said it had a profit of 66 cents a share, which matches the average estimate of analysts polled by Thomson Reuters.
Sales rose 4.1% from a year ago to $24.8 billion; that figure exceeded Wall Street's expectations. Analysts had been looking for a $24.5 billion top line. ...
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