Verizon’s Fourth Quarter Earnings Fall Short, But wireless subscribers surge
Tuesday, 25 Jan 2011
As Verizon gets ready to launch the Iphone on their network, they delivered a mixed fourth quarter report that fell short of expectations.
Verizon reported a fourth quarter net income of $4.65 billion. The good news for Verizon is that subscribers have surged and that number should continue to grow since they now will be able to offer the Iphone to customers. The addition of the Iphone is a big coup for Verizon and should boost sales significantly.
For the whole year of 2010 Verizon saw a net income of $10.2 billion off of a revenue of $106.6 billion. Verizon added around 872,000 postpaid subscribers and 803,000 total retail customers in the fourth quarter.
Verizon's fourth quarter earnings fall short, but wireless subscribers surge