BUSINESS BRIEFING / EARNINGS
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Times Wire Reports
Verizon Communications Inc., the second-largest U.S. phone company, reported third-quarter profit that topped analysts’ estimates after cutting workers and adding mobile-phone customers.
Profit, excluding severance and other costs, amounted to 60 cents a share, New York-based Verizon said. That compared with the 59-cent average of estimates compiled by Bloomberg.
Sales rose 10% to $27.3 billion, compared with the average projection of $27.2 billion.
