Verizon today posted $1.93 billion Q4 loss despite record subscriber growth and smartphone penetration. The carrier adds record high 2.1 million postpaid subscribers as smartphone penetration hits 58 percent. The company reported a loss of $1.48 in earnings per share (EPS), compared with a loss of 71 cents per share in 4Q 2011 with 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.
The company reported that about 8.5 percent year-over-year increase in service revenues in 4Q 2012; 8.4 percent year-over-year increase in retail service revenues while 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 with 4G LTE service now available to more than 273 million people in 476 markets across the U.S.
For wireline, the company reported 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 with 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.