Verizon Shares Drop More Than 2% After Company Misses Q4 Profit Expectations

Verizon Communication Inc. shares fell 2.7% in premarket trade on Tuesday after the mobile phone and cable TV provider reported fourth-quarter profit that was below Wall Street expectations. Net income for the quarter was $4.6 billion, or $1.10 per share, compared with $5.5 billion, or $1.32 per share, during the same quarter a year ago.