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.
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