Verizon revenues exceed estimates on data, contracts

01/22/2013 | Verge, The · Wall Street Journal, The

Verizon Communications increased revenues by 5.7% in the fourth quarter, beyond analysts' estimates, as wireless sales soared by 9.5% due partly to the introduction of shared-data pricing plans. The carrier had earlier said that postpaid subscribers -- those with contracts -- would grow by 2.1 million, almost double the gains of a year ago, with 87% of those coming from smartphones. Overall, Verizon added 2.24 million wireless customers, pushing its total to 98.2 million, a 6.6% increase from 2011. Overall, losses widened largely due to a one-time charge for pension funds and other restructuring as well as the fallout from Hurricane Sandy.

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Verge, The · Wall Street Journal, The

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