Verizon Communications Inc. (NYSE: VZ) reported fourth-quarter and full-year 2015 results before markets opened Thursday. The telecom giant posted quarterly adjusted earnings per share (EPS) of $0.89 on revenues of $34.25 billion. In the same period a year ago, Verizon reported EPS of $0.71 on revenues of $33.19 billion. Fourth-quarter results also compare to the consensus estimates for EPS of $0.88 on revenues of $34.06 billion.
For the full year, Verizon posted EPS of $3.99 and revenues of $131.62 billion, compared with 2014 EPS of $3.35 and revenues of $127.08 billion. Analysts were looking for $3.97 EPS and $131.46 billion in revenues.
In the fourth quarter of 2014, adjusted EPS excluded a $0.40 per share credit related to severance, pension and benefits payments and a $0.04 per share credit related to a gain on the sale of spectrum licenses. On a GAAP basis, quarterly EPS totaled $1.32.
Verizon Wireless added 1.5 million net retail postpaid connections in the fourth quarter. At the end of the quarter Verizon Wireless claimed 35.74 million retail accounts and 112.1 million retail connections. Average revenue per (postpaid) account (ARPA) fell 4.5% year over year to $152.63 a month.
Wireless operating margin in the second quarter improved from 23.5% in the fourth quarter of 2014 to 328.6% this year. Total revenues in the wireless business came in at $23.73 billion, up 1.2% year over year. Operating expenses fell by 5.6% to $16.94 billion. Net income rose 23.6% year over year in the quarter.
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