Ron Burgundy Posted January 21, 2014 Share Posted January 21, 2014 Verizon Communications Inc reported on Tuesday its quarterly revenue grew 3.4 percent, slightly faster than analysts estimated, as it added more subscribers than expected at its Verizon Wireless venture with Vodafone Group Plc. Verizon, which has agreed to buy Vodafone's 45 percent share in their venture for $130 billion, said the wireless business added 1.6 million subscribers in the quarter, compared with the 1.5 million average expectation of five analysts contacted by Reuters. Verizon Wireless, the first of the big U.S. mobile operators to report fourth-quarter earnings, competes in a market where competition is rapidly intensifying. Verizon shares rose 0.8 percent in premarket trading after reporting that it earned $5.07 billion, or $1.76 per share, in the fourth quarter, compared to a loss of $4.23 billion, or $1.48 per share, in the year-ago period, including pension-related charges in both quarters. Excluding unusual items, its earnings per share of 66 cents beat Wall Street expectations by a penny. View the full article Quote Link to comment Share on other sites More sharing options...
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