Earnings Reports for Feb. 1

Shares of Verizon have gained about 21 percent in the past three months. They have outperformed the Standard & Poors 500-stock index by about 34 percent.

Total adjusted U.S. telecom revenues grew 3.3 percent for the fourth quarter, to $10.9 billion.

Verizon said it expected its 2001 earnings to be in the range of $3.13 to $3.17 a share. The company made a similar forecast in December.

Verizon said it added 190,000 digital subscriber lines in the fourth, 46 percent more than in the third quarter. The lines allow high-speed Internet access through regular telephone wires.

The 540,000 lines in service at the end of the year represent an increase of more than 500 percent over the number in service at the end of 1999.

The company said it was "well positioned in 2001 to further transform our growth profile and move into our target ranges of 8-10 percent revenue growth and $3.13-$3.17 earnings per share."

The company made a similar earnings forecast in December.

Verizon's long-distance unit ended the year with 4.9 million customers nationwide, 44 percent more than the year before. Verizon is the fourth-biggest U.S. provider of

long-distance services.

Verizon Wireless added 1.2 million net new customers during the fourth quarter, 5.9 percent more net additions than in fourth-quarter 1999. The total number of customers grew 15.6 percent year-over-year to 27.5 million.

Wireless revenues for the quarter grew to $4.1 billion, up 16.7 percent from fourth-quarter 1999.

Verizon said it added 190,000 digital subscriber lines in the fourth quarter, 46 percent more than in the third quarter. The lines allow high-speed Internet access through regular telephone wires.

Page
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...