Verizon Profit Doubles on Smartphones; User Gains Fall Short
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Verizon Communications Inc., the second-largest U.S. phone company, reported third-quarter profit doubled as consumers snapped up iPhones and Android devices.
Net income rose to $1.38 billion, or 49 cents a share, from $659 million, or 23 cents, a year earlier, New York-based Verizon said today. Earnings, excluding some items, rose to 56 cents a share in the quarter ended Sept. 30. Analysts predicted 55 cents, the average of estimates compiled by Bloomberg.