Verizon quarterly revenue misses estimate, shares drop

By Sinead Carew (Reuters) – Verizon Communications Inc said strength in its wireless business was tempered by weakness in its traditional wireline unit, producing softer-than-expected revenue growth for the quarter and sending its shares down nearly 2 percent. The telecommunications company said on Thursday that corporate and government customers were cutting costs, partly offsetting better-than-estimated wireless customer growth. Also, wireless profit margins were hurt by higher costs. …

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Verizon quarterly revenue misses estimate, shares drop

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