The profit for the final three months of 2004, which included one-time gains from sales of non-strategic assets and tax benefits, amounted to $1.08 per share, matching most Wall Street forecasts. In the same period in 2003, Verizon lost $1.46 billion, or 53 cents per share, including one-time expenses from a voluntary severance plan and some environmental remediation costs.
Excluding one-time factors, Verizon earned 64 cents per share in the fourth quarter 2004, up from 58 cents per share in the fourth quarter of 2003.
Fourth-quarter revenues totaled $18.26 billion, up from $17.20 billion a year earlier.
Verizon Wireless contributed more than 40 percent of the revenues, compared with 35 percent in the final months of 2003. The unit's revenue total of $7.34 billion was up 22.7 percent vs. in the year-ago period.