NEW YORK (AP) — NEW YORK (AP) — Verizon Communications Inc. (VZ) on Friday reported fourth-quarter earnings of $2.34 billion.
The New York-based company said it had net income of 55 cents per share. Earnings, adjusted for severance costs and non-recurring costs, came to $1.09 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The largest U.S. cellphone carrier posted revenue of $36.38 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $35.94 billion.
For the year, the company reported profit of $17.17 billion, or $4.06 per share. Revenue was reported as $138.19 billion.
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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
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