Verizon News Verizon Earnings Miss Estimates by a Penny
Verizon Earnings Miss Estimates by a Penny
Verizon Communications posted a quarterly loss due to a non-cash pension charge and high costs from strong sales of the Apple
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Don Ryan / AP |
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]Verizon posted a fourth-quarter loss of 71 cents per share compared with a profit of 93 cents a share a year earlier.
Excluding a hefty non-cash pension-related charge, it earned 52 cents per share. Analysts polled by Reuters had expected earnings of 53 cents a share.
Revenue rose to $28.4 billion from $26.4 billion in the year-ago quarter and compared with analyst expectations for $28.39 billion according to Thomson Reuters I/B/E/S.
Following the earnings release, the company's stock
[VZ
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] fell more than 1 percent. Apple shares
[AAPL
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] were slightly lower in pre-market trading. (Click here to get real-time quotes for Verizon.)
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