Verizon Communications Inc. and Verizon Wireless Corp. reported a record $9,664.3 million in quarterly net income for the fourth quarter of 2017, a $3.5 billion gain for the company, and a record revenue gain of $4.1 billion.
The $9 trillion in net profit comes on top of Verizon’s $5.9 billion in revenue.
Verizon also posted a $1.3 trillion operating profit.
Verizon shares have risen 17% in 2017.
Verizon’s profit came in a year in which the company has spent $8.2 billion to expand its wireless network, invest in new hardware and expand its data offerings.
Verify said it is expected to post a net profit of $3 billion for the year, up from $1 billion a year ago.
The company said it would release quarterly earnings next week.
Verification reported $6.2 trillion in sales last year, a year when Verizon lost $1 trillion.
The stock has risen 25% this year.
Verifying is owned by AT&T Inc., Charter Communications Inc., Cox Communications Inc, Comcast Corp., Sprint Communications Inc..
Verizon shares rose 4.7% Thursday in after-hours trading.
Verifi shares rose 2.2% in the second quarter of 2018.