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.

More from Video

Video: How to Select Mutual Funds in Your 401(k)

Video: How to Select Mutual Funds in Your 401(k)

Racing Legend Mario Andretti Has Great Advice for Retirees

Racing Legend Mario Andretti Has Great Advice for Retirees

Arianna Huffington on Burnout, Tech-Life Balance and Why Amazon's CEO Agrees

Arianna Huffington on Burnout, Tech-Life Balance and Why Amazon's CEO Agrees

Nucor Is Waiting to See if Steel Tariffs Will Be Implemented, Jim Cramer Says

Nucor Is Waiting to See if Steel Tariffs Will Be Implemented, Jim Cramer Says

Jim Cramer: Will Apple or Amazon Become the World's First Trillion Dollar Stock?

Jim Cramer: Will Apple or Amazon Become the World's First Trillion Dollar Stock?