Quantcast
Don't Miss

Verizon 4Q net income reaches $5.07B

NEW YORK — Verizon says it posted fourth-quarter net income of $5.07 billion, helped by the continued addition of more wireless devices to its network.

 In this Thursday, June 6,  2013, file photo, a pedestrian uses her cell phone as she passes a Verizon Wireless store on Broadway in Lower Manhattan, in New York.  Verizon Communications Inc. reports quarterly financial results before the market opens on Tuesday, Jan. 21, 2014 (AP Photo/John Minchillo, File)

In this Thursday, June 6, 2013, file photo, a pedestrian uses her cell phone as she passes a Verizon Wireless store on Broadway in Lower Manhattan, in New York. Verizon Communications Inc. reports quarterly financial results before the market opens on Tuesday, Jan. 21, 2014 (AP Photo/John Minchillo, File)

The results beat Wall Street expectations.

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 says 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.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 
Scroll To Top