Verizon Communications Reports $2.64 Billion Profit (VZ)

Verizon Communications Inc. VZ released financial results on Tuesday morning. Verizon Communications Inc reported that its 4th quarter net income attributable to Verizon rose to $2.64 billion, or 93 cents a share, up from $617 million, or 22 cents a share, a year earlier. Excluding special items, the company earned 54 cents per share. Verizon Communications Inc. reported revenue of $26.4 billion, down 2.6% from $27.09 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 55 cents per share, on revenue of $26.47 billion. Verizon Communications Inc. (VZ) closed the previous trading day at $35.24 per share. Analysts covering the company's stock give it a consensus price target of $34.93 per share. Read more from Benzinga's Company news.