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Verizon Communications Inc. (NYSE:VZ) shares are trading higher by $3.39 (7.6 percent) at $47.79 in Thursday's session.
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Before the open, the company reported an inline Q2 EPS report, but had a revenue beat of $590 million. The Street is focusing on the revenue beat as well as wireless customer gains and customer loyalty in the quarter.
After a much higher open, Verizon had a brief 31-cent retreat to $45.95 before continuing its move higher. It has continued to make new highs for the session with the current one standing at $47.83 as of 2:22 p.m. EST. That marks the highest level for the stock since it peaked on April 21 at $48.17.