Verizon Communications posts disappointing revenue report

UK based Telecom Company Verizon Communications has posted their latest quarterly reports. Verizon reported that their fourth quarter earnings fell but sales rose.

The company gained from its wireless venture and rise in Internet subscribers.

Verizon’s quarterly earnings fell to $1.0 billion, or 35 cents per share. They had posted figures of $ 1.7 billion, or 59 cents per share, in the year-ago quarter. However, that quarter saw the gains from sale of its Dominican Republic assets and the spinoff of its directories business.

The company also said that the sales were up 26.1 percent to $22.6 billion.

Verizon Communications’ Verizon Wireless division added 2.3 million net customers in the fourth quarter. They now have a total subscriber base of 59.1 million customers.

Popularity: 6%