Verizon announced $30 billion in 4th quarter revenues, including $20 billion for their wireless business which was up 9.5 percent year over year, and a net loss of $1.9 billion. The company cited restructuring and pension adjustment costs and Hurricane Sandy as contributing to the loss.
Verizon added 2.1 million new wireless connections in the 4th quarter for a total of 98.2 million retail connections, a 6.6% increase year over year. The company has 35.1 million retail wireless accounts, up 1.4% year over year, with an average of 2.6 connections per account, up 4.3%. Average revenue per account grew 6.6 percent year over year to $146.80 per month.
More than 58% of Verizon's wireless customers are now using smartphones, and nearly 89% of the U.S. population is now covered by 4G LTE.
Shares of VZ are off around 2% in pre-market trading following the announcement.
- Making out like a Bandit? (80 replies)
- Art or advertising? Magpies and city trying to sort it out (25 replies)
- Big Brother is (was?) listening at the courthouse (14 replies)
- Haslam to outsource operation of U.T. and other university facilities (62 replies)
- Stand Up for Good Jobs, Living Wages, & Our Public Services! (2 replies)
- This will make you feel old (2 replies)
- U.S. Economy Added 173,000 Jobs in August; Unemployment Rate Fell (1 reply)
- Rowan Co. KY county clerk in the national spotlight for defying U.S. Supreme Court (20 replies)
- Tennessee judge won't grant divorce because the gays win (3 replies)
- State officials promote 'low-cost labor force' to lure foreign industries to Tennessee (2 replies)
- State seeks input on proposed law to charge for public records inspection (1 reply)
- The beast has more than one belly: (21 replies)