Verizon has released their fourth quarter 2011 earnings, and while the company posted a whopping $28.4 billion in sales, they posted a $2 billion loss. Why? According to Verizon, the company posted a $3.4 billion pre tax pension charge, but they also took a hit due to their up front subsidizing of the Apple iPhone. On the wireless side growth continued strong, with Verizon posting 1.5 million retail net additions for a total of 108.7 million total wireless connections, 92.2 of which are retail. On the wireline front Verizon added 201,000 new FiOS Internet and 194,000 FiOS Video customers, but only saw a net gain of 98,000 broadband users due to continuing to bleed DSL users in un-upgraded markets. At the end of 2011 Verizon served 4.8 million FiOS Internet and 4.2 million FiOS Video connections.
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Verizon Posts $2 Billion Loss - Largely Related to Pensions, iPhone Subsidy Costs
Posted: January 24th, 2012, 7:39am MST