Verizon Communications Q4 Profit Beats Estimates

(RTTNews) - Verizon Communications (VZ) revealed earnings for fourth quarter that beat the Street estimates.

The company's earnings came in at $4.74 billion, or $1.11 per share. This compares with $4.72 billion, or $1.11 per share, in last year's fourth quarter.

Excluding items, Verizon Communications reported adjusted earnings of $1.31 per share for the period.

Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.8% to $34.07 billion from $34.69 billion last year.

Verizon Communications earnings at a glance (GAAP) :

-Earnings (Q4): $4.74 Bln. vs. $4.72 Bln. last year. -EPS (Q4): $1.11 vs. $1.11 last year. -Analyst Estimates: $1.29 -Revenue (Q4): $34.07 Bln vs. $34.69 Bln last year.