NEW YORK (AP) - Verizon Communications Inc. (VZ) on Tuesday reported fourth-quarter net income of $1.94 billion.
On a per-share basis, the New York-based company said it had net income of 47 cents. Earnings, adjusted for one-time gains and costs, were $1.12 per share.
The results topped Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The largest U.S. cellphone carrier posted revenue of $34.28 billion in the period, falling short of Street forecasts. Seventeen analysts surveyed by Zacks expected $34.34 billion.
For the year, the New York company reported profit of $15.53 billion, or $3.76 per share. Revenue was reported as $130.86 billion.
Verizon shares have fallen 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5.5 percent. The stock has increased almost 1 percent in the last 12 months.
_____
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
Please read our comment policy before commenting.