Verizon Posts Mixed Quarterly Results After Agreeing to Acquire Yahoo's Core Assets

Shares of Verizon Communications (VZ) - Get Report were down slightly on Tuesday after posting mixed quarterly results. Verizon reported earnings of $0.94 a share, two cents ahead of forecasts. Revenue of $30.5 billion, a hair below forecasts. The quarterly results come one day after Verizon agreed to acquire Yahoo's (YHOO) core assets for $4.8 billion. CEO Lowell McAdam said in a statement that by acquiring Yahoo, Verizon is scaling up to be a major competitor in mobile media. He added that the acquisition is expected to give Verizon a significant source of revenue growth for the future.