Shares of Verizon were up Thursday morning as the company beat Wall Street expectations.

Overall, Verizon reported fourth-quarter earnings of 89 cents per share on $34.25 billion in revenue, up from 71 cents per share on $33.1 billion in the same quarter last year. 

A Thomas Reuters consensus estimate had pegged Verizon at 88 cents per share on $34.06 billion in revenue.

On the wireline side, Verizon added 99,000 net new Fios internet connections and 20,000 net new Fios video connections in fourth-quarter. 

Connections totaled 7 million for Fios internet and 5.8 million for Fios video at the end of 2015, representing year-over-year increases of 6.3 percent and 3.2 percent, respectively.

Verizon CFO, Fran Shammo, indicated more and more Fios customers may be cutting the cable cord. 

“We’re starting to see more and more customers coming into fios on a broadband only basis,” Shammo said, adding that the company is seeing a “little bit” of a shift in the current Fios base. 

Consumer revenues were $4.1 billion, an increase of 2.6 percent compared with fourth-quarter 2014. Fios revenues represented 80.4 percent of the total.

Wireline operating income margin was 7.3 percent in the fourth-quarter, up from 4.4 percent in the same quarter last year. 

By year-end 2015, more than 70 percent of consumer Fios Internet customers subscribed to data speeds of 50 megabits per second or higher. In addition, customer interest continues to grow for Custom TV, which represented about one-third of Fios video sales in fourth-quarter.

In a statement, Verizon pitched its AOL and Millennial Media acquisitions as having added capabilities that “significantly bolster Verizon’s strategy with strong cross-platform consumer and advertising offerings, particularly in mobile and video.” 

In 2015, the Verizon launched its new go90 video platform aimed at millennials. 

“Verizon embraced transnational change in 2015, and in 2016 the company has a huge opportunity to drive a new era of growth in our industry,” said Lowell McAdam in a statement. 

Verizon said it expects consolidated adjusted EBITDA margin consistent with full-year 2015, and spending of between $17.2 billion and $17.7 billion. That includes approximately $150 million for the properties to be sold to Frontier.

Shares of Verizon were up 1.19 percent to $44.95 in premarket as of 8:04 a.m. CT.