NEW YORK (AP) — NEW YORK (AP) — Verizon Communications Inc. (VZ) on Tuesday reported third-quarter profit of $3.31 billion.

The New York-based company said it had profit of 78 cents per share. Earnings, adjusted for severance costs and non-recurring costs, were $1.19 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The largest U.S. cellphone carrier posted revenue of $33.33 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $33.53 billion.

Verizon expects full-year earnings in the range of $4.50 to $4.70 per share.

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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at https://www.zacks.com/ap/VZ