NEW YORK — Verizon Communications Inc. on Thursday reported a fourth-quarter loss of $2.23 billion, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 54 cents per share. Earnings, adjusted for non-recurring costs, came to 71 cents per share.
The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 71 cents per share.
The largest U.S. cellphone carrier posted revenue of $33.19 billion in the period, topping Street forecasts. Analysts expected $32.53 billion, according to Zacks.
Verizon shares have climbed 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 1 percent. The stock has climbed 1 percent in the last 12 months.