Verizon Verizon Communications Inc. earned $1.88 billion, or 66 cents per share, during the second quarter ended June 30, up 12 percent from $1.68 billion, or 58 cents per share, a year ago.
Verizon said that excluding a merger-related item, it earned 67 cents a share, beating the average estimate of analysts polled by Thomson Financial by 2 cents.
Revenue increased 3.7 percent to $24.1 billion from $23.27 billion a year ago. Thomson says analysts expected $24.2 billion.
Verizon shares fell 85 cents, or 2.5 percent, to $33.60.
- The Associated Press
Richmond-area firm:
Owens & Minor Inc.
Owens & Minor Inc. said its second-quarter profit rose 29 percent on higher revenue and raised its earnings projection for the year.
The Hanover County-based distributor of medical and surgical supplies reported profit of $23.6 million, or 57 cents per share, compared with profit of $18.3 million, or 45 cents per share, in the second quarter of 2007. Revenue rose 6.9 percent to $1.79 billion.
The company also said it is targeting earnings per share for the year in a range of $2.30 to $2.40, an increase from the previous range of $2.20 to $2.30.
Owens & Minor reported earnings after the market closed. Its shares closed down $1.19, or 2.4 percent, to $48.24 on the New York Stock Exchange. It was up after hours.
- John Reid Blackwell
ILLUSTRATION: CHART
MEMO: EARNINGS
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Story Source: Richmond Times - Dispatch
