Verizon Remains Strong Amidst Profit Loss

Verizon has just released its financial report for Q4 last year. The nation’s largest carrier says that it saw an 8.5 percent increase per year in service revenues and 8.4 percent per year increase in retail service revenues. Verizon also gained 2.2 million retail net additions including a whopping 2.1 million new postpaid subscribers in Q4 alone, bringing a total number of 98.2 million retail connection and 92.5 million retail postpaid connections.

Verizon also praised its LTE service which it said is now available to more than 273 million customers across 476 markets in the U.S. However, Verizon added that it suffered a loss of $1.48 in earnings per share (EPS) due to additional non-operational debt retirement and other restructuring items in the previous quarter. Superstorm Sandy also affected Verizon’s EPS, bringing it down to 38 cents per share from 52 cents. Verizon’s FiOS Wireline business also added 144,000 Internet and 134,000 video subscribers. You can read the rest of the report here.

Gene Ryan Briones
Categories: General
Tags: business, Verizon