Multinational telecommunications company Verizon Communications, Inc. (VZ) has reported better-than-expected fourth-quarter earnings driven by increased wireless net additions and accelerated adoption of 5G-capable devices. The company reported adjusted earnings of $1.31 per share in the fourth quarter, which compared favorably with $1.21 per share recorded in the same quarter last year, and beat analysts’ expectations of $1.29 per share. Meanwhile, adjusted operating revenue declined 1.8% year-over-year to $34.1 billion but surpassed the consensus estimate of $33.9 billion. Additionally, wireless service revenue came in at $17.8 billion, up 6.5%. Consumer revenues were $25.7 billion, up 7.4% year-over-year, mainly driven by robust demand for connectivity and products.
https://www.tipranks.com/news/verizon-posts-better-than-expected-q4-results?utm_source=advfn.com&utm_medium=referral