Verizon: Q4 earnings snapshot

NEW YORK — Verizon Communications Inc. today reported fourth-quarter net income of $4.61 billion.

On a per-share basis, the company said it had profit of $1.11. Earnings, adjusted for one-time gains and costs, were $1.31 per share.

The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The largest U.S. cellphone carrier posted revenue of $34.07 billion in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $33.83 billion.

For the year, the company reported profit of $22.07 billion, or $5.32 per share. Revenue was reported as $133.61 billion.

Verizon expects full-year earnings in the range of $5.40 to $5.55 per share.