Holding company, Verizon Communications Inc.(VZ) Thursday has reported increased profit that was in line with analysts estimates.
The New York based company reported Q3 earnings of $1.59 billion, or 56 cents a share, up from last year’s third quarter earnings of $1.38 billion, or 49 cents a share.
The company reported revenue of $29.01 billion, up 3.7% from last years revenue of $27.91 billion, meeting analysts expectations.
Increased revenue was the result of VZ’s number of new devices that they have introduced to the market, and their new money saving plans that they started offering to customers.
Verizon shares were up 27 cents, or 0.6% during premarket trading Thursday.
The Bottom Line
We have been recommending shares of Verizon (VZ) since Oct.10, 2008, when the stock was trading at $25.93. The company has a 4.61% dividend yield, based on last night’s closing stock price of $44.72.
Verizon Communications Incp(VZ) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.