Verizon Communications on Monday reported a fall in first-quarter profit.

Verizon Communications, one of the 30 stocks that make up the Dow industrials, on Monday reported a fall in first-quarter profit due to discontinued operations, although profit from continuing operations rose in line with expectations amid the impact of declining fixed-line use and and Internet growth.

Verizon,  reported that its first-quarter profit fell 8.4 percent; however, its revenue rose 17 percent, and the results were better than analysts predicted. Verizon rose 7 cents to $37.96.

Quarterly profit fell to $1.5 billion, or 51 cents a share, from $1.6 billion or 56 cents a share a year earlier. The year-ago figures included a directories business that it has since spun off and assets in the Dominican Republic and Puerto Rico that it has since sold.

That figures in line with analysts' expectations of 54 cents in adjusted earnings per share before discontinued items, according to Reuters Estimates.

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