EARNINGS ROUNDUP / VERIZON
Verizon Communications Inc. posted a 15% earnings increase for the fourth quarter as the shrinking economy did little to dampen consumer appetites for wireless, Internet and TV service.
Verizon earned $1.24 billion, or 43 cents a share, up from $1.07 billion, or 37 cents, a year earlier.
Excluding charges mainly for job cuts, earnings were 61 cents a share, matching the expectation of analysts polled by Thomson Reuters.
Revenue rose 3.4% to $24.6 billion, just short of analyst forecasts of $24.74 billion.
Verizon’s shares fell $1.03, or 3.3%, to close at $29.96 as investors seized on apparent weakness in new subscriptions for wireless services.
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