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Verizon Tops Analyst Estimates

|Includes:Verizon Communications (VZ)

Originally published at www.seclive.com

Verizon Communications Inc. (NYSE:VZ) announced its financial results for the fourth quarter of fiscal year 2012, reporting earnings and revenue that topped analyst predictions. The nation's largest cellular phone carrier posted earnings of $7.92B and $1.66 per share, up from the $1.93B loss and $0.38 earnings per share on an adjusted basis. Revenue climbed 3.4% from $30.05B to $31.07B, beating the $31.03B estimate. The company's gross margins continue to grow, and grew close to 15% this quarter thanks to its substantial investment in its 4G network that has helped the company maintain higher prices over its competitors. Chairman and CEO Lowell McAdam commented that the company continues to deliver value to shareholders while also growing the company.

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Stocks: VZ