Verizon Communications Inc. reported its fourth quarter earnings jumped 15 percent, fueled by strong sales volumes for broadband, wireless and strategic business services, the company said.

Verizon earned $1.24 billion or 43 cents per share in the fourth quarter, compared to $1.07 billion or 37 cents per share in the same period of the previous year.

Earnings before items were 61 cents compare with 62 cents in the previous quarter. Analysts had expected 62 cents on average, according to Reuters.

Revenue rose to $24.6 billion up 3.4 percent from a year ago, below analysts' forecasts of $24.74 billion in revenue, according to the Associated Press.

Shares of Verizon climbed 1.32 percent or 41 cents to $31.40 ahead of the opening of the New York Stock Exchange, by 8:07 a.m. EST