Wall Street Yawns At Verizon's (VZ) Q2 Results

Communication giant Verizon (NYSE: VZ) reported second quarter results today that were generally in-line with Wall Street's expectations. Wall Street was ho-hum on the results, with many saying they don't expect the stock to do much in the near-term.

Verizon reported Q2 EPS of $0.63, in-line with the Wall Street consensus of $0.63 but down from $0.67 last year. Revenues, including the Alltel acquisition, grew 11.3% to $26.9 billion, versus the consensus of $26.85 billion.

Verizon reported 300,000 net new FiOS TV customers and a record 303,000 net new FiOS Internet customers, for a total of 2.5 million FiOS TV customers and 3.1 million FiOS Internet customers

Analysts at Goldman Sachs said while enterprise erosion accelerated they viewed the quarter as "strong" as the company exceeded growth metrics for FiOS TV, FiOS Internet, wireless net adds. The firm maintained their Buy on Verizon, but said recent outperformance may limited gains from here in the near-term.

Analysts at Wells Fargo said the results showed no major surprises while the wireless results showed solid execution. That said, the firm thinks the stock is fairly-valued in the $29-$31 range, and therefore maintains their Market Perform rating on the stock.

UPDATE: Click here to see some highlights from the company's Q2 conference call.

Shares of Verizon are down 2% today to $30.86.