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1/25, 1:08 PM (Source: TeleTrader)
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Verizon: Revenue declines 1.8% YoY to $34.1B in Q4

Verizon Communications Inc. announced on Tuesday that its total operating revenues stood at $34.1 billion in the fourth quarter of fiscal 2021, representing a decrease of 1.8% compared to the same period a year ago.

Diluted earnings per common share came in at $1.11 in the final trimester, unchanged compared to a year ago, while net income rose by 0.4% to $4.74 billion. Operating income grew 6% on an annualized basis to $7.61 billion in the fourth three-month period of 2021.

Full-year 2021 total operating revenues reached $133.6 billion after increasing by 4.1% from 2020 while operating income jumped 12.7% to $32.45 billion. Diluted earnings per common share amounted to $5.32, a figure 23.7% higher compared to 2020 and net income surged 23.3% to $22.62 billion.

Verizon's shares were 0.30% lower in premarket trade after the release of the report.

Baha Breaking the News (BBN) / MS