Tue
Jan 22 2013
08:53 am

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.

Verizon press release

Verizon 4th quarter financial statement

47
like

Upcoming events:

Lost Medicaid Funding

To date, the failure to expand Medicaid/TennCare has cost the State of Tennessee ? in lost federal funding.

TN Progressive

TN Politics

Local Media Blogs

Local News

Members Only

State News

Pilot Watch

Wire Reports

Site Statistics

Last 7 days:
  • Posts: 32
  • Comments: 412
  • Visits: 11,314
  • Pageviews: 31,401
Last 30 days:
  • Posts: 142
  • Comments: 1379
  • Visits: 44,282
  • Pageviews: 110,745

TN Progressive

Nearby:

Beyond:

At large: