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Verizon recovers from huge loss with $5 billion Q4 profit


Verizon Communications posted a massive $1.93 billion loss in the fourth quarter of 2012 as pension expenses and costs associated with Hurricane Sandy took a big toll on the company’s performance. The company was looking to rebound in 2013 and it did just that. Excluding one-time charges, Verizon managed earnings of $0.45 per share in the year-ago quarter on sales totaling $30 billion. In Q4 2013, Verizon’s earnings climbed to $0.66 per share on $31.07 billion in revenue, narrowly beating analysts’ estimates on both counts. The carrier’s net income totaled $5.07 billion in the fourth quarter. Verizon also said it added 1.7 million net new wireless subscribers during the quarter, pushing its total subscriber count to 102.8 million. The company’s

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