2015 has proven to be one of the best for Verizon Communications after reporting fourth-quarter earnings of $1.32 per share which is equivalent to 89 cents per share on an adjusted basis.
In the quarterly results released on January 21, Verizon recorded 6.8 percent FiOS revenue growth; 99,000 FiOS Internet and 20,000 FiOS video net additions. They also added 1.5 million net retail postpaid connections in the quarter; 112.1 million total retail connections and 106.5 million total retail postpaid connections.
Verizon Chairman and CEO Lowell McAdam said the results prove that they can compete well against other dominant forces in the market. “In 2015, Verizon delivered strong and balanced results in a dynamic competitive environment while returning more than $13.5 billion to shareholders,” he said. “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.”
The company released a press statement detailing all the results that had fourth-quarter 2015 EPS results compare with a loss of 54 cents per share in fourth-quarter 2014. Earnings were impacted by non-operational items in both quarters, primarily related to the annual actuarial valuation of benefit plans and mark-to-market pension adjustments. Verizon’s adjusted EPS of 89 cents in fourth-quarter 2015 increased 25.4 percent compared with adjusted EPS of 71 cents in fourth-quarter 2014.
For the full year, Verizon reported $4.37 in EPS in 2015, compared with $2.42 in EPS in 2014. On an adjusted basis, Verizon’s $3.99 in EPS in 2015 was an increase of 19.1 percent compared with $3.35 in adjusted EPS in 2014. McAdam said the company will come even bigger and better in 2016. “Verizon embraced transformational change in 2015, and in 2016 the company has a huge opportunity to drive a new era of growth in our industry.”