Verizon Adds 2.2 Wireless Customers in 4Q12, Posts Loss of $1.48 in EPS

Verizon has announced its earnings for 4Q12 posting an 8.5% year-over-year increase in Wireless service revenues for the quarter but a loss of $1.48 in earnings per share.

The company added 2.2 million Wireless customers in the quarter and is now offering 4G LTE to 273 million people.


4Q 2012 HIGHLIGHTS


Wireless
● 8.5 percent year-over-year increase in service revenues in 4Q 2012; 8.4 percent year-over-year increase in retail service revenues.
● 2.2 million retail net additions, excluding acquisitions and adjustments, including a record-high 2.1 million retail postpaid net connections; low retail postpaid churn of 0.95 percent; 98.2 million total retail connections, 92.5 million total retail postpaid connections.
● 4G LTE service now available to more than 273 million people in 476 markets across the U.S.

Wireline
● 4.1 percent year-over-year increase in consumer revenues; consumer ARPU (average revenue per user) up 9.5 percent year over year, to $105.63.
● 144,000 FiOS Internet and 134,000 FiOS Video net additions, with continued increased sales penetration for both services; 5.4 million total FiOS Internet, 4.7 million total FiOS Video customers.

Consolidated Earnings
● A loss of $1.48 in earnings per share (EPS), compared with a loss of 71 cents per share in 4Q 2011, impacted by non-cash pension items in both quarters and additional non-operational debt retirement and other restructuring items in 4Q 2012.
● A 7-cent-per-share impact due to Superstorm Sandy yielded 38 cents per share in adjusted EPS (non-GAAP), compared with 52 cents in adjusted EPS in 4Q 2011.

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