Verizon Posts $2 Billion Loss
Largely Related to Pensions, iPhone Subsidy Costs
Verizon has released their fourth quarter 2011 earnings
, and while the company posted a whopping $28.4 billion in sales, they posted a $2 billion loss. Why? According to Verizon, the company posted a $3.4 billion pre tax pension charge, but they also took a hit due to their up front subsidizing of the Apple iPhone. On the wireless side growth continued strong, with Verizon posting 1.5 million retail net additions for a total of 108.7 million total wireless connections, 92.2 of which are retail. On the wireline front Verizon added 201,000 new FiOS Internet and 194,000 FiOS Video customers, but only saw a net gain of 98,000 broadband users due to continuing to bleed DSL users in un-upgraded markets. At the end of 2011 Verizon served 4.8 million FiOS Internet and 4.2 million FiOS Video connections.
62 comments .. click to read
|reply to BIG b |
Re: Slow data
said by BIG b:It's slow because it's on 3G, which VZW's 3G is one of the slowest in the country (but also largest in terms of coverage).
So this is why my iPhone is so slow.. They have no plans or money to fix their 3G network... This is like AT&T when they introduced the iPhone.
The day the iPhone was released, I upgraded from my old BB curve to a Moto 4G Bionic. The 4G speeds are worth more to me than a cup of the Apple kool-aid.
And, fwiw, Verizon has stated publicly that they are not planning on upgrading their 3G network.
RTFA, the losses stem from legacy landline costs and subsidies to Apple.