Verizon Posts 32% Gain In Quarterly Profit Q1, Helped By Tax Reform

Telecom giant Verizon said its first-quarter net income rose 32% to $4.55 billion, or $1.11 a share, in the first quarter thanks in part to benefits from federal tax reform. The results compared with $3.45 billion, or 85 cents per share, a year earlier. Total revenue in the period rose nearly 7% to $31.8 billion. In Verizon's media business, Oath, a seasonal decrease in display advertising caused gross revenue to decrease 13% from the fourth quarter (the best comparison…

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