Verizon 4Q Net Income Reaches $5.07B
Verizon said it posted fourth-quarter net income of $5.07 billion, helped by the continued addition of more wireless devices to its network.
The results beat Wall Street expectations, and its shares edged higher.
The largest U.S. cellphone carrier’s profit amounted to $1.76 per share. The company lost $4.23 billion, or $1.48 per share, in the year-ago period. Excluding one-time items, the company said it posted an adjusted profit of 66 cents per share.
Revenue rose 3 percent, to $31.07 billion from $30.05 billion.
Analysts polled by FactSet expected a profit of 62 cents per share on $31.04 billion in revenue.
Service revenue rose 8 percent to $17.7 billion. The company added 1.7 million net retail wireless connections during the quarter. Of that total, 1.6 million were connections that involved monthly service contracts.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.