Verizon's profit, excluding noncontrolling interest, rose to $1.65 billion, or 58 cents per share, from $1.64 billion, or 57 cents a share, a year earlier.
Earnings excluding items rose to 63 cents a share from 61 cents, exceeding the analysts' average forecast of 59 cents, according to Reuters Estimates.
Revenue rose to $26.59 billion from $23.83 billion.
Verizon Wireless, a venture of Verizon and Vodafone Group Plc
Shares of Verizon were down 3.2 percent at $30 in trading before the market opened.
Verizon surpassed AT&T Inc
(Reporting by Ritsuko Ando and Sinead Carew; Editing by Lisa Von Ahn)