Investing.com - Verizon Communications Inc (N:VZ), the largest mobile network operator in the U.S., reported better than expected fourth quarter earnings ahead of Thursday’s opening bell, sending its shares higher in pre-market trade.
Verizon said adjusted earnings per share came in at 89 cents in the three months ended December 31, above expectations for earnings of 88 cents per share and compared with 71 cents per share in the same period a year earlier.
Fourth quarter earnings included impacts related to the annual actuarial valuation of benefit plans and mark-to-market pension adjustments.
The mobile network operator’s fourth quarter revenue totaled $34.25 billion, beating forecasts for revenue of $34.11 billion but up 3.2% from $33.18 billion a year earlier.
The mobile network operator added 1.5 million net retail postpaid connections in the quarter.
"In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders," said Chairman and CEO Lowell McAdam.
"At the same time, Verizon built and acquired next-generation network capabilities that position the company to be an innovator in the digital-first mobile world in 2016 and beyond," McAdam added.
Immediately after the earnings announcement, Verizon shares gained 45 cents, or 1.01%, in trading prior to the opening bell to hit $44.90 from a closing price of $44.45 on Wednesday.
Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures shed 96 points, or 0.61%, the S&P 500 futures dipped 10 points, or 0.55%, while the Nasdaq 100 futures declined 23 points, or 0.54%.