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US telco Verizon reports USD1.9b loss in Q4  Join our daily free Newsletter

MENAFN - 22/01/2013

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(MENAFN) US broadband and telecommunications firm Verizon Communications Inc reported a wider quarterly loss due to pensions liabilities, Reuters reported.

The second largest phone company in the US said it booked USD1.93 billion net loss during the fourth quarter ended in December, compared with USD212 million loss a year earlier.

The company said pension liabilities and storm-related charges offset strength in its wireless business.

Verizon also reported a 4.5 percent increase in quarterly revenue to USD30.05 billion from a year ago.

Verizon Wireless, the company's mobile venture with Vodafone Group Plc, is the biggest US mobile service provider.

 






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