NEW YORK (AP) — Verizon Communications said Monday that it's poised to expand its profit margins and increase revenue this year following the completion of its acquisition of Vodafone Group PLC's 45 percent stake in its wireless division.
The New York-based company said it still expects the acquisition to immediately boost its earnings per share by about 10 percent, excluding operational adjustments. The company also is targeting 2014 revenue growth of 4 percent, compared with 4.1 percent in 2013.
In addition, Verizon projected profit and margin increases for 2014 at both its wireless and landline businesses.
Verizon shares fell 40 cents to $46.87 in morning trading Monday. Its shares are down almost 4 percent so far this year.