Verizon Reports Slightly Better-than-expected Q4 Earnings

Verizon Communications Inc. shares saw a slight uptick after the company reported better-than-expected earnings for its fiscal fourth quarter. Net income was $5.51 billion, or $1.32 earnings per share, after a net loss of $2.14 billion, or per-share loss of 54 cents in the same quarter a year ago. Adjusted earnings per share were 89 cents, just above the FactSet consensus of 88 cents. The wireless internet, phone and cable provider reported revenue hit $34.25 billion during the quarter, up more than 3% compared with last year's $33.18 billion. The FactSet consensus for revenue was $34.11 billion. Verizon said it added 99,000 new Fios Internet customers and brought in 20,000 new video customers.

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