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Verizon (VZ)

verizon-vz-stockTelecom giant and Dow component Verizon (VZ) closed one of the biggest acquisitions in history last quarter, and the deal is already juicing earnings.

VZ said profit more than doubled last quarter, helped by higher-margin Verizon Wireless, which it bought out by paying Vodafone (VOD) $130 billion for its 45% stake. On the other hand, adjusted earnings still missed Street estimates by 3 cents per share, weighing on VZ stock.

Although AT&T (T) added more of the most lucrative post-paid subscribers in the first quarter, Verizon stayed out of an industry price war, which helps protect margins.

The big takeaway, however, is that Verizon Wireless is already boosting the top and bottom lines, giving this dependable dividend stock a chance for better price appreciation going forward.

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