Verizon posts strong Q4 earnings, gains 1.7 million new retail customers
Verizon reported that by the end of 2013, smartphones accounted for 70 percent of its wireless customer base
The carrier Verizon this morning reported fourth quarter earnings which saw its total revenue increase 5.7 percent, while operating income grew 30 percent to $6.229 billion.
“Verizon delivered a total return of 18.6 percent to our shareholders in 2013, while attracting more customers than our competitors and improving our financial performance,” Lowell McAdam, Verizon chairman and CEO, said. “This included more than 20 percent year-over-year increases in operating cash flow and EPS. In 2014, we look forward to acquiring sole ownership of Verizon Wireless, the best asset in the global wireless industry, and leveraging all our assets to deliver innovative products to customers and more value to shareholders.”
For the full year of 2013, Verizon reported total revenues of $81.0 billion, a 6.8 percent increase over 2012. Margins were also up, with Q4 wireless operating income margins at 29.5 percent.
Verizon reported that by the end of 2013 smartphones accounted for 70 percent of its wireless customer base.