The New York telecommunications giant’s quarterly earnings beat Wall Street forecasts as higher prices helped to boost revenue.

Verizon Communications beat Wall Street’s earnings expectations on Friday, as higher prices for its plans helped the company’s wireless service business make more money than a year ago. Verizon reported adjusted earnings of $1.

Verizon ( VZ 1.14%) stock is climbing Friday following the company's fourth-quarter earnings release. The telecom company's share price was up 1.3% as of 12:15 p.m. ET and had been up as much as 3.9% earlier in the daily session.

Verizon Communications' quarterly earnings came in just above Wall Street forecasts -- with higher prices helping boost revenue -- as more customers than expected signed up for wireless phone service. That is up from 449,000 a year earlier and beat analyst estimates for 488,300 additions.

Verizon Communications on Friday reported its best quarterly wireless subscriber growth in five years, fueled by robust demand for its customizable myPlan, Black Friday deals and trade-in offers for the AI-powered iPhone 16 series.

The bottom line isn't showing improvement, either. In 2023, the company reported an operating profit of $28.7 billion -- nearly identical to the $28.8 billion operating profit it posted three years earlier in 2020. It was also the second consecutive year that the company's earnings declined.

The spending is also key to hitting its goal of doubling subscribers for its fixed wireless service to as much as 9 million by 2028. The 2025 forecast followed a strong fourth quarter for subscriber growth as wireless additions hit a 5-year high thanks to its customizable myPlan,

Verizon Communications Inc. reported fourth-quarter financial results that beat analysts’ estimates, including gains in new mobile-phone and broadband customers.

U.S. stock futures showed small losses due to tariff concerns stirred by President Trump's trade policies. Boeing and Verizon shares fell due to forecasts of higher losses and lower profits, respectively.

U.S. stocks are pulling back from their all-time high, but are still on track to close out a second straight winning week. The S&P 500 fell 0.4% on Friday, a

On a per-share basis, the New York-based company said it had net income of $1.18. Earnings, adjusted for severance gains, came to $1.10 per share. The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

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