Verizon: Q4 Earnings Snapshot
NEW YORK (AP) _ Verizon Communications Inc. (VZ) on Tuesday reported fourth-quarter profit of $6.58 billion.
On a per-share basis, the New York-based company said it had profit of $1.56. Earnings, adjusted for severance gains, were $1.19 per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The largest U.S. cellphone carrier posted revenue of $35.25 billion in the period, which topped Street forecasts. Eight analysts surveyed by Zacks expected $35.06 billion.
For the year, the company reported profit of $21.26 billion, or $5.06 per share. Revenue was reported as $136.84 billion.
Verizon expects full-year earnings in the range of $4.55 to $4.85 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at https://www.zacks.com/ap/VZ