Verizon Communications has swung to a fourth-quarter profit as it continued to add wireless customers at a healthy clip.
The New York company on Tuesday posted a net income of $7.9 billion, or $1.76 a share, compared with a year-earlier loss of $1.9 billion, or $1.48 a share. Because of the shared ownership of Verizon Wireless with Vodafone, the actual net income attributable to Verizon is $5.07 billion.
Its current results include an after-tax gain from an adjustment to its benefit and pension plans, without which the company earned 66 cents a share.
Its revenue, … Read more