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Verizon Communications
VZ reported a rise in its second-quarter profit.
Verizon's quarterly profit surged to $2.25 billion, or $0.78 per share, versus $1.83 billion, or $0.64 per share, in the year-ago period. Its adjusted per-share earnings came in at $0.73.
Its operating revenue climbed 4.3% to $29.79 billion from $28.55 billion. However, analysts were projecting earnings of $0.72 per share on revenue of $29.81 billion.
Verizon lifted its full-year forecast guidance for capital spending to $16.4 billion to $16.6 billion, versus its earlier forecast of $16.2 billion.
Verizon shares closed at $50.74 yesterday.
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