Verizon posts quarterly gains from mobile, broadband

The company's mobile and Fios revenue are up significantly

Verizon Communications posted revenue of US$31.1 billion for the fourth quarter of 2013, a 3.4 percent increase from a year earlier, with the gains driven again by mobile and broadband growth.

Verizon on Tuesday reported adjusted income of $6.9 billion for the quarter, up from $5.9 billion for the fourth quarter of 2012. With another $4.2 billion of depreciation and amortization adjustments added to the bottom line, Verizon reported adjusted earnings of $11 billion for the quarter.

The company posted an adjusted earnings per share of $0.66, beating analyst estimates by a penny.

The past year was "great" for Verizon, said Fran Shammo, Verizon's chief financial officer.

A highlight for the year was an agreement for Verizon to buy Vodafone's 45 percent stake in Verizon Wireless, Shammo said. The deal will give Verizon "sole ownership of the best asset" in the global mobile industry, he said.

Verizon expects the $130 billion deal to close in late February.

As with many recent quarters, growth in Verizon's mobile and broadband segments drove the numbers up.

Mobile revenue for the fourth quarter of 2013 was $21.1 billion, up 5.7 percent from a year earlier. Verizon Wireless added 1.7 million retail customers during the quarter, bringing its retail customer numbers of 102.8 million.

Mobile income was $6.3 billion for the quarter, up from $4.8 billion a year earlier.

Wireline revenue was $9.8 billion, down from $10 billion for the fourth quarter of 2012. The wireline division posted a net income of $131 million, however, compared to a loss of $326 million a year earlier.

Verizon's Fios consumer revenue grew 14.9 percent year over year to $2.8 billion. The company added 126,000 Fios broadband customers and 92,000 new Fios TV customers during the quarter. Verizon now has 6.1 million Fios broadband and 5.3 million Fios TV customers.

Verizon's total broadband customer numbers rose by 20,000 during the quarter, to 9 million, with Fios additions just offsetting DSL losses.

For the full year, Verizon posted revenue of $120.6 billion, up from $115.8 billion for 2012.

Grant Gross covers technology and telecom policy in the U.S. government for The IDG News Service. Follow Grant on Twitter at GrantGross. Grant's email address is

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuestelecommunicationfinancial resultsVerizon CommunicationsFran Shammo

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments



Sansai 6-Outlet Power Board + 4-Port USB Charging Station

Learn more >



Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?