Verizon adds 2.1 million subscribers in Q4 2012, but still makes a loss

Verizon on Tuesday reported a fourth-quarter loss of $4.22 billion, or $1.48 a share, more than double the loss a year ago. Damages from Hurricane Sandy cost 7 cents a share, and pension charges reduced earnings by $1.55 a share, Verizon said. Revenue climbed to $30.05 billion, a 5.7 percent increase compared with a year ago.

However, Verizon Wireless added 2.1 million of the most profitable postpaid subscribers, up from 1.21 million additions a year earlier and up from 1.5 million additions in the prior quarter. It added 2.24 million total subscribers during the quarter, pushing its base to 98.2 million connections, a 6.6% increase from a year ago.

"Verizon seized growth opportunities in the fourth quarter to cap a year of solid progress across the entire business," said Lowell McAdam, chief executive of Verizon, in a statement. "We delivered a total return of 13.2 percent to shareholders in 2012, and we enter 2013 ready to accelerate the momentum we've achieved and create significant shareholder value in the years to come."

Unsurprisingly, the iPhone played a big part in wireless subscriber growth. The company said that a higher mix of the customers purchased iPhone than before, spurred by the release of the iPhone 5 in October. Verizon Chief Financial Officer Fran Shammo told analysts during a conference call today that the carrier had activated 6.2 million iPhones, with the iPhone 5 making up half of the total sales.

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