Tuesday, January 24, 2017

Verizon Q4 Profit Misses Estimates; Revenues Down 5.6%

Verizon Communications Inc. (VZ) reported fourth-quarter adjusted earnings per share of $0.86 compared to $0.89, prior year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.89 for the quarter. Analysts' estimates typically exclude special items. The company noted that its fourth-quarter adjusted EPS excluded 24 cents in net gains related to mark-to-market pension and OPEB adjustments and severance-related costs. Net income decreased year-over-year to $4.60 billion or $1.10 per share from $5.51 billion or $1.32 per share, prior year.

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