Verizon posts USD2.02bn loss in Q4

Tue Jan 24 2012, 15:29 PM

Verizon Communicationsreported a net loss of USD2.02bn for Q4 2011, compared with USD4.65bn profits in the same period for 2010, due to previously announced pension charges as well as high up-front costs for Apple’s iPhone. Meanwhile, revenues grew from USD26.4bn to USD28.4bn in the period, led by the firm’s Wireless division, which pulled in USD18.3bn. Overall revenues for 2011 hit USD110.9bn, up 4% from 2010.

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