NEW YORK (Reuters) - Verizon Communications posted a quarterly loss due to hefty severance charges and revenue declined even as its wireless venture added more new monthly-bill paying customers than analysts expected.
VERIZON (VZ.NY)posted a second-quarter loss of $198 million, or 7 cents per share, compared with a profit of $1.48 billion, or 52 cents per share, in the same quarter the year before.
The company had said in June it expected to take a significant charge from buyout offers to its employees that were aimed at reducing its workforce to cut costs.
Excluding items such as the $2.3 billion charge, its earnings per share would have been 58 cents compared with analyst expectations for 56 cents, according to Thomson ReutersI/B/E/S.
Operating revenue fell 0.3 percent to $26.77 billion from $26.86 billion a year earlier.
Verizon Wireless, its venture with Vodafone Group Plc
(Reporting by Sinead Carew; editing by Derek Caney)
