Verizon Communications 4Q loss widens
Verizon Communications' fourth-quarter loss widened, dragged down by restructuring, pension and Superstorm Sandy costs. The company activated a record number of new devices on its contract-based plans during the period.
The parent of the country's biggest wireless carrier lost $4.23 billion, or $1.48 per share, for the period ended Dec. 31. That compares with a loss of $2.02 billion or 71 cents per share, a year ago.
Adjusted earnings were 38 cents per share.
Operating revenue rose 6 percent to $30.05 billion from $28.44 billion.
Analysts expected earnings of 50 cents per share on revenue of $29.82 billion.
The company's stock fell 1 percent in premarket trading Tuesday.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.