Verizon posts higher revenue; wireless margins narrow

Verizon Communications Inc said on Thursday that quarterly revenue rose 6.8 percent as it added more customers during the competitive holiday season but profit margins narrowed in its wireless business due to pricing and promotions. Shares in Verizon fell 2.5 percent to $47.06 on the New York Stock Exchange, while the S&P Telecom Services Sector fell 1.8 percent. Verizon earned 71 cents per share, excluding items, in the fourth quarter, as revenue rose to $33.19 billion from $31.07 billion.