Shares of Verizon are slipping on Thursday after reporting a nearly 5% rise in first-quarter revenue but profit still fell short of expectations. Excluding items, earnings came to 84 cents a share on revenue of $30.8 billion. Earnings missed analyst forecasts of 87 cents a share, but revenue slightly topped estimates of $30.7 billion, according to Thomson Reuters. The report marks Verizon's first quarterly results after it acquired Vodafone's 45% stake in the company in February.

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