Verizon Takes a Q4 Hit

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Verizon (NYSE:VZ) announced this morning that it widened its losses in the fourth quarter.

VZ posted earnings of $4.23 billion, or $1.48 a share, which was much lower than loss of $2.02 billion, or 71 cents a share, in the same period a year ago. The company did make a profit — of 38 cents per share — after some one-time adjustments, but that still fell short of views for 50 cents.

The company blamed the results on a variety of factors, including the impact of Hurricane Sandy, charges for pension liabilities and discounts on smartphones, such as for Apple (NASDAQ:AAPL) devices.

Despite all this, Verizon still showed traction with its mobile business. In Q4, the company added 2.1 million subscribers for a customer base of about 98.2 million, and also upped the pricing on data plans by about 6.6%.

The momentum was certainly a nice boost to revenues, which increased by nearly 6% to $30 billion, edging a consensus estimate was for $29.8 billion.

Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.

Tom Taulli is the author of various books. They include Artificial Intelligence Basics and the Robotic Process Automation Handbook. His upcoming book is called Generative AI: How ChatGPT and other AI Tools Will Revolutionize Business.


Article printed from InvestorPlace Media, https://investorplace.com/2013/01/verizon-takes-a-q4-hit/.

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