Verizon says new tax law to increase fourth-quarter earnings

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January 17, 2018
Verizon says new U.S. tax law to increase 4th-qtr earnings
January 17, 2018
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NEW YORK (Reuters) – Verizon Communications Inc said on Wednesday the tax overhaul bill signed into law by U.S. President Donald Trump late last year will result in a one-time reduction in net deferred income tax liabilities of about $16.8 billion.

The reduction will increase earnings for the fourth quarter and year ending Dec. 31, 2017, but will not have any impact on the 2017 statement of cash flows, Verizon said in a filing.

Verizon estimates that the impact of the law to earnings per share for the year ended Dec. 31 is about $4.10.

Reporting by Anjali Athavaley; Editing by Sandra Maler