Verizon Shares Fall In Pre-Market After Q2 Revenue Misses Analysts' View

(RTTNews) - Shares of Verizon Communications Inc. (VZ) were falling more than 3 percent in pre-market on Monday to $39.96, after the telecom giant posted second-quarter revenue below the Street expectations.

Revenue for the quarter rose 0.6 percent year-on-year to $32.796 billion, but missed the consensus estimate of $33.06 billion.

Profit for the second quarter declined to $4.702 billion, or $1.09 per share from $4.766 billion, or $1.10 per share last year.

Excluding items, earnings were $1.15 per share, in line with the average estimate of analysts.

Verizon stock had closed at $41.62, down 1.07 percent on Friday. It has traded in the range of $30.14 - $43.42 in the last 1 year.