NEW YORK (AP) _ Verizon Communications Inc. (VZ) on Thursday reported second-quarter profit of $3.94 billion.On a per-share basis, the New York-based company said it had net income of 95 cents. Earnings, adjusted for non-recurring costs, were $1.23 per share.The results exceeded Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.The largest U.S. cellphone carrier posted revenue of $32.07 billion in the period, missing Street forecasts. Eighteen analysts surveyed by Zacks expected $32.4 billion.Verizon shares have declined almost 2% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has risen almost 7% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at https://www.zacks.com/ap/VZae???The Associated Press

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