Verizon reports solid Q4, adds 1.5 million new postpaid customers

Verizon has released its Q4 financial results, revealing slightly higher-than-expected revenue and earnings. The US’ largest telecommunications company reported a revenue of $34.25 billion last quarter, up from $33.19 billion it reported in Q4 2014.

The Q4 revenue was also slightly up compared to the quarter prior, when the figure stood at $33.2 billion. For the full year, total consolidated revenues came out to be $131.6 billion, up 3.6% compared to 2014.

The carrier’s Q4 net income stood at $5.5 billion, or $1.32 per share. Adjusted earnings per share stood at 89 cents, up from the 88 cents figure analysts were expecting.

Verizon added a total of 1.5 million new postpaid customers last quarter, bringing the company’s total postpaid customer count to 106.5 million. Overall wireless customer count stood at 112.1 million.

“Verizon embraced transformational change in 2015, and in 2016 the company has a huge opportunity to drive a new era of growth in our industry,” said CEO Lowell McAdam.

Head to the Source link below for the full report.

Source

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